2019 (4) TMI 2140

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....for the Respondent ORDER 1. These appeals are filed by the Revenue to challenge the judgment of the Income Tax Appellate Tribunal, Mumbai ("the Tribunal" for short) dated 1.4.2016. 2. Following question is presented for our consideration : - "Whether on the facts and circumstances of the case and in law, the Tribunal was right in deleting the penalty levied under Section 271(1) (....

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....unal, this would imply whether the issue was debatable and therefore, the penalty could not be levied. In the present appeals, we are not required to test this conclusion of the Tribunal. The record suggested that the assessee had claimed depreciation on leased assets. Such claim was backed by the material on record. The Assessing Officer did not agree with the assessee and disallowed the claim. ....