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Section 271(1)(c) Penalty Deleted Due to Pending HC Decision on Section 10(26BBB) Exemption Claim
Case Law Details
- Case Name
- ITO Vs Uttarkhand Poorv Sainik Kalyan Nigam Ltd. (ITAT Dehradun)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Dehradun
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ITO Vs Uttarkhand Poorv Sainik Kalyan Nigam Ltd. (ITAT Dehradun)
In this case before the Income Tax Appellate Tribunal (ITAT), Dehradun, the Revenue challenged the order of the Commissioner of Income Tax (Appeals) [CIT(A)] deleting penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961 for Assessment Year 2013–14. The penalty of ₹2.30 crore had been levied on the ground that the assessee wrongly claimed exemption under Section 10(26BBB), which was disallowed during reassessment proceedings completed under Sections 143(3) read with 147.
The Assessing Officer he...
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