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2019 (4) TMI 1434
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...., Sr. D.R. ORDER PER BHAVNESH SAINI, J.M. This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-1, New Delhi, Dated 09th May, 2016, for the A.Y. 2005-2006, challenging the levy of penalty under section 271(1)(c) of the Income Tax Act, 1961. 2. The A.O. noted in the penalty Order that assessee filed return of income declaring loss of Rs. 9,69,924/-. The A.O. made....
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....rd to Rule 19(2) of Income Tax Appellate Tribunal Rules and following various decisions of Delhi Bench of the Tribunal including that of Multiplan India Ltd., 38 ITD 320 (Del.); Hon'ble Madhya Pradesh High Court decision in the case of Estate of Late Tukojirao Holkar vs. CWT 223 ITR 480 (MP), and also the decision of Hon'ble Supreme Court in the case of CIT vs. B. Bhattachargee & Another (118 ....