2018 (11) TMI 1685

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....G.M. Thakor, AR ORDER PER MAHAVIR PRASAD, JUDICIAL MEMBER: This appeal has been preferred by the Revenue against order of ld. CIT(A) dated 19.12.2016 for the Assessment Year 2003-04. 2. The Revenue has taken the following ground of appeal :- "Whether the ld. CIT(A) is right in law and on fact in deleting the penalty levied of Rs. 4,84,75,000/- under section 271(1)(c) of the Act." 3. In t....

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....ails of assessee's provision in the impugned assessment order of Rs. 69,46,73,244/- as well as similar provisions written back amounting to Rs. 55,61,73,244/-. The assessee's case accordingly is it has duly followed netting principle as per hon'ble jurisdictional high court's judgment in Vodafone Essar's case (supra). These crucial facts evident from case record have gone unrebutted from Revenue s....