Case Law Details
Case Name : Commissioner of Income Tax- II Vs. KAS Movie Pvt. Ltd. (Delhi High Court)
Appeal Number : ITA No. 793 of 2011
Date of Judgement/Order : 18/11/2011
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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If two views were possible and the assessee claimed deduction on the basis of advice of consultants, penalty can not be imposed
CIT Vs. Kas Movie Pvt. Ltd (Delhi High Court) – For the purpose of claiming benefit under Section 80HHF of the Act, ownership of goods is not essential as held by the Supreme Court in the case of Sea Pearl Industries and Others Vs. Commissioner of Income Tax, 247 ITR 578. Thus, when two views were possible and the assessee made the claim on the basis of advice of the consultants, it was not a case where the penalty should have been imposed.
In The High Court Of Delhi At New Delhi
ITA No. 793 of 2011
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