Case Law Details

Case Name : Commissioner of Income Tax Vs Liquid Investment And Trading Co. (Delhi High Court)
Appeal Number : Appeal No. ITA 240/2009
Date of Judgement/Order : 05/10/2010
Related Assessment Year :
Courts : All High Courts (4314) Delhi High Court (1306)

High Court of Delhi

Commissioner of Income Tax

Liquid Investment And Trading Co.

Appeal No. ITA 240/2009
Date of Pronouncement – 05.10.2010

Both the CIT(A) as well as the ITAT have set aside the penalty imposed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, 1961 on the ground that the issue of deduction under Section 14A of the Act was a debatable issue. We may also note that against the quantum assessment where under deduction under Section 14A of the Act was prescribed to the assessee, the assessee has preferred an appeal in this Court under Section 260A of the Act which has also been admitted and substantial question of law framed. This itself shows that the issue is debatable. For these reasons, we are of the opinion that no question of law arises in the present case.

This appeal is accordingly dismissed.



OCTOBER 05, 2010

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Category : Income Tax (28058)
Type : Judiciary (12277)

0 responses to “S. 271(1)(c) Admission of quantum appeal by HC shows that issue is debatable”

  1. DEEPAK SONI says:

    It is indeed very helpful decision.However it shold nod be misused where there is noappeal.

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