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Penalty not leviable on issue on which a substantial question of law has been framed by HC
Case Law Details
- Case Name
- JHPL Holding (P) Ltd Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Delhi
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Admittedly the impugned addition pertaining to the amount received by the assessee from M/s. Newell Rubbermaid Inc. has been upheld by the Tribunal. At the same time we also observed that in assessee’s appeal ITA No. 1235/2011 order vide dated 29.11.2011 (supra) the Hon’ble High Court of Delhi has admitted appeal of the assesee and a substantial question of law has been framed therein. In view of various decisions of Hon’ble Jurisdictional High Court including decision in the case of Liquid Investment Ltd. (supra) we reach to a logical conclusion that when appeal of the assessee has been...
