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If addition itself Set aside, there cannot be penalty for concealment
Case Law Details
- Case Name
- Deputy Commissioner of Income Tax Vs M/s CNB Finwiz Limited (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- ITAT Delhi
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The disallowance made by the Assessing Officer and sustained by the learned CIT(A) was challenged by the assessee before the ITAT in an appeal. The ITAT has decided the said appeal in favour of the assessee. Therefore, at present, when the addition itself has been set aside, there cannot be any case for levy of penalty for concealment of income.
INCOME TAX APPELLATE TRIBUNAL, DELHI
ITA No.3989/Del/2011
Assessment Year: 2005-06
Deputy Commissioner of Income Tax
Vs.
M/s CNB Finwiz Limited
ORDER
PER G.D.AGRAWAL, VP:
This appeal by the Revenue is directed against the order of lea...
