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Section 271(1)(c) Penalty Appeal Requires Fresh Hearing After NFAC Order
Case Law Details
- Case Name
- New Mangalore Port Road Company Limited Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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New Mangalore Port Road Company Limited Vs DCIT (ITAT Delhi)
CIT(A) Erred in Dismissing Penalty Appeal as “Infructuous” After VSVS; Entire 271(1)(c) Penalty on Depreciation & Interest Disallowance Remanded for Fresh Adjudication -ITAT Delhi Sets Aside NFAC Order
Assessee, a BOT road developer, appealed against a ₹19.25 crore penalty levied u/s 271(1)(c) on two disallowances made in scrutiny assessment: (i) Depreciation on Toll Road – ₹60.67 crore & (ii)Interest u/s 36(1)(iii) – ₹1.63 crore.
During assessment, AO held that depreciation was wrongly claimed ...
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