2019 (4) TMI 507

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.... P. Jain, Sr. DR For the Responden : Shri Manish J. Shah, A.R. ORDER PER PRADIP KUMAR KEDIA - AM: The captioned appeal has been filed at the instance of the Revenue against the order of the Commissioner of Income Tax (Appeals)-1, Vadodara ('CIT(A)' in short), dated 08.05.2015 arising in the penalty order dated 30.07.2014 passed by the Assessing Officer (AO) under S. 271(1)(c) of the In....

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....0,000/- under s. 271(1)(c) of the Act. 4. When the matter was called for hearing, the learned DR for the Revenue relied upon the penalty order passed by the AO on the various disallowances made. 5. The learned AR for the assessee, on the other hand, referred to the assessment order at the outset and submitted that the penalty has been imposed on account of certain additions/disallowances mad....

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....t) for the proposition that where the tax required to be paid as per Section 115JB of the Act remained the same, the penalty imposed under s. 271(1)(c) of the Act was rightly deleted. The learned AR next submitted that Explanation (4) to Section 271(1)(c) has been modified by Finance Act, 2015 and is applicable from AY 2016 17 onwards to cover such situation for imposition of penalty. Such amou....