Case Law Details
Case Name : JDIT Vs. Shin Satellite Public Co. Ltd. (ITAT Delhi)
Related Assessment Year : 2003- 04 & 2004- 05
Courts :
All ITAT ITAT Delhi
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JDIT Vs. Shin Satellite Public Co. Ltd. (ITAT Delhi)- The stand taken by the appellant in its return of income has been upheld by the ld. High Court. Since, the quantum additions in both the assessment years under appeal has already been deleted by the ld. ITAT, no penalty can be levied u/s 271(1)(c) for either concealment or furnishing inaccurate particulars of income. Therefore, the AO is directed to delete the penalty levied u/s 271(1)(c) for A.Ys. 2003- 04 & 2004- 05. We are of the view that in the peculiar facts and circumstances of the
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