Case Law Details
Case Name : Software Element India P. Ltd, Vs Department Of Income Tax (ITAT Mumbai)
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Mumbai
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No penalty can be imposed u/s 271(1)(c) wherein though the addition has been made but the tax effect did not change with the amount of addition
Held: This was an appeal filed by the department against the penalty deleted by the Ld. CIT(A). The assessee is a software company claiming deduction u/s 10B of the Act. During the quantum proceedings, the then assessing officer disallowed the deduction claimed u/s 10B of the Act of Rs. 31,52,432/- on the ground that the approval granted to the assessee, which made entitled the assessee for deduction u/s 10B, had expired on 31/03/2005 i.e. the deductio...
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Thanks for sharing such a good judgment….