Noida Toll Bridge Company Limited
Parties Involved
Facts Summary
The assessee, Noida Toll Bridge Company Ltd., filed appeals against the orders passed by the Commissioner of Income Tax (Appeals) for the Assessment Years 2012-13 to 2014-15. The assessee challenged the orders upholding the penalty imposed under section 271(1)(c) of the Income Tax Act 1961 for furnishing inaccurate particulars. The penalty was imposed as a consequence of the assessment orders passed under section 143(3) of the Act. The assessee's counsel submitted that the penalty order should not sustain as the quantum addition was deleted by a coordinate bench of the Tribunal in a related case. The Departmental Representative did not dispute the submission but sought dismissal of the appeal.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the penalty imposed under section 271(1)(c) of the Income Tax Act 1961 is valid?
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
1 precedent cited in this judgement.
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