AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
2018 (8) TMI 1785
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 1 We have heard Mr.Kanade appearing for the assessee in this Appeal. With his assistance, we have perused the order under Appeal. That imposes penalty on the appellant/assessee and Mr.Kanade would submit that even if the rigors of Section 271(1)(c) of the Income Tax Act 1961 permitted imposition of penalty, yet, that legal provision itself enables deletion of penalty by a higher forum. If ther....
X X X X Extracts X X X X
X X X X Extracts X X X X
....his amount should have been statutorily added back. Further, from the computation of income, the assessee added back certain inadmissible expenditure. However, he excluded the amount of income tax paid to the extent of Rs. 48,90,114/-. Thus, the addition was only partial and not full. Unless and until the legal provision then in force permitted exclusion of the amount of income tax already paid, t....