2010 (12) TMI 1345

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....d under section 271(1)(c) for the assessment years 1996-97, 98-99, 1999-2000 and 2001-02 respectively. These appeals were heard together and hence disposed of by this single order for the sake of convenience. 2. The ld. DR while relying upon the orders of the Assessing Officer has pleaded for setting aside the orders of the ld. CIT(A) and restoring that of the Assessing Officer for all the four years. 3. The assessee's counsel while supporting the orders of the ld. CIT(A) has submitted that since the additions against which penalties have been imposed for all the four years have since been deleted/set aside, therefore, the ld. CIT(A) is justified in deleting the said penalties, which are not imposable. As such, the orders of the ld. CIT(A....

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....ansactions. 13.03.2004 - Order u/s.143(3) r.w.s. 263 disallowing depreciation in respect of 6 SLB transaction. 15.10.2004 - CIT (A) order confirming the disallowance of depreciation 28.03.2006 - Order u/s.271 (1)(c) 22.06.2006 - ITAT order in ITA No 817 and 818/03 against the order u/s.263 - CIT's order in disallowing depreciation in respect of 6 SLB transactions set aside @ para 10,11 in page 11 of the compilation filed. 07.09.2007 - ITAT Order in ITA No.1435/99 . Sale and Lease Back in respect of 8 transactions set aside to CIT(A) @ para 23 in page 23 of compilation filed. M/s.Aban Lloyd Chiles Offshore Ltd - Allowed at para 22 in page 22 of the compilation filed. Sd/- COUNSEL FOR ASSESEE ITA No.1499/2010 Asst Year: 1998-9....

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....ls @ para 47, page 38 of the compilation filed. Sd/- COUNSEL FOR ASSESEE ITA No.1501/2010 Asst Year:2001-02 M/s.ICICI Bank Ltd .. Assessee NOTE 31.03.2004 - Assessment Order - u/s.143(3) -disallowance of depreciation on windmills Rs.7,60,00,000/- 15.10.2004 - CIT(A) confirming the disallowance 28.03.2006 - Order u/s.271 (1)(c) 06.06.2008 - ITAT Order in ITA No.3404/04 Following ITA No.3401/04 allowed the claim of Depreciation on wind mills @ para 40 page 37 of the compilation filed. Sd/- COUNSEL FOR ASSESEE" 4.1 From the above details, it is seen that except for the assessment year 1996-97, all the additions on the basis of which penalties under section 271(1)(c) have been imposed have already been deleted. Therefore, the....