2019 (4) TMI 628

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.... for the Assessment Year 2012-13 whereby the Tribunal has remitted the matter back to the Assessing Authority on the issue of certain additions including penalty imposed under Section 271(1)(c) of the Act:- "i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in giving liberty to the Assessing Officer to initiate the penalty proceedings after giving effect to the Tribunal's order in the issue of quantum additions, when admittedly, the subject matter of levy of penalty was not an issue raised by the revenue in its quantum appeal? ii) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in remitting the penalty case before the Assessin....

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....eimbursement claimed as capital receipt, disallowance of excess depreciation claimed on machines and disallowance of amount on proto type samples. Further, the Assessing Officer stated in penalty order that the assessee went in appeal before Commissioner of Income Tax (Appeals) except for addition on disallowance of excess depreciation on machineries and later withdrew the appeal filed on the addition made on disallowance of depreciation of intangible assets. The Assessing Officer elaborately discussed in the penalty order the reasons for levying penalty and levied a penalty of Rs. 1,76,63,327/- under Section 271(1)(c) of the Act. 10.3. We have heard both the parties and perused the material on record. In our opinion, it is prepost....