2011 (11) TMI 849

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....dra Kumar Yadav, JM This appeal by the Revenue is directed against the order of CIT(A)-V Pune dated 5-3-2010 for A.Y. 2004-05 on the point of deletion of penalty of ₹ 7,07,000/- levied u/s 271(1)(c) by the Assessing Officer. 2. The assessee runs an engineering workshop. The assessee filed a return of income on 1-11-2004 declaring a total income of ₹ 1,55,67,045/-which was assessed b....

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....he appellants had furnished factual details or information about income which was not in conformity with facts or truth. In fact all the information utilized by the Assessing Officer for making the disallowance at assessment stage was information furnished in the return of income, statement of accounts, audit report etc., which were furnished with the return of income or further factual details pr....