Ita/91/2015 Of Commissioner Of Income Tax Gurgaon v. M/S Crew Bos Products Ltd New Delhi

IN THE HIGH COURT OR PUNJAB AND HARYANA|§AT CHANDIGARH ITA No. 91 of 2015 (O&M)Date of Decision: 11.05.2016 Commissioner of Income Tax (Central), Gurgaon ....... Appellant )"*%+% M/s Crew Bos Products Ltd. ....Respondent CORAM: HON'BLE MR. JUSTICK RAJESH BINDALHON'BLE MR. JUSTICE HARINDER SINGH SIDHU Present:Mr. Rajesh Sethi, Advocate|for the appellant. RAJESH BINDAL,J. This appeal has been filed under Section 260 A of the IncomeTax Act, 1961 (for short ‘the Act’), against the order dated8.8.2014 passed by the Income Tax Appellate Tribunal, Delhi Bench ‘B'New Delhi, in ITA No. 1948/Del/2013, for the assessment year 2003-04,raising the following substantial questions of law: (i) Whether ITAT has erred in law in deleting penaltyimposed u/s 271(1)(c) of the Act on the ground that suchpenalty is not leviable in a case where there is meredenial of the claim of deduction claimed by the assessee?(ii) Whether ITAT has erred in law in not appreciatingthat the deduction claimed by the assessee in grossdisregard to unambiguous provisions of Section 80HHCof the Act amounts to furnishing of inaccurate particularsof income as contemplated u/s 271(1)( c) of the Act? ITA No. 91 of 2015 (O&M) ~). Learned counsel for the appellant-revenue submitted that inview oft circular No21/2015 dated 10.12.2015 read with circularNo.279/Misc/M-142/2007-ITJ (Part) dated 8.3.2016, issued by CentralBoard of Direct Taxes, he does not wish to press the present appeal, as thetax effect involved 1s less than=a20 lacs. However, he prays that liberty begranted to the revenue to file an application for revival of the appeal in casesomething survives therein. Dismissed as not pressed with liberty as prayed for. It ishowever, clarified that withdrawal of the appeal by the revenue shall not betaken as affirmation of order of the Tribunal on merits. The legal issue asclaimed by the revenue is left open to be adjudicated in an appropriate case, (RAJESH BINDAL)JUDGE 11.05.2016T@eIN (HARINDER SINGH SIDHU)JUDGE