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Case Law Details

Case Name : Fine Line Construction P. Ltd. Vs ACIT Circle 11(1) (ITAT Delhi)
Related Assessment Year : 2006- 07
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The assessee company is engaged in the business of construction work. The Assessing Officer applied provisions of section 145 of the Act and computed the total income at 5% of turnover and levied penalty u/s 271(1) (c) of the Act.

According to circumstances of the case, the Hon’ble High Court relied on the decision pronounced in case of CIT vs. Vatika Construction P.Ltd. ITA 1246/2010 in which it was held that the Assessing Offi

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