Deputy Commissioner of Income-tax, Circle - 1(1),, Pune M/s. Applied Micro Circuits India Private Limited,, Pune

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Last updated: 20 May 2021
Quick Summary
This case involves an appeal by the Deputy Commissioner of Income Tax against the deletion of a significant penalty imposed on M/s. Applied Micro Circuits India Pvt. Ltd. The penalty, amounting to Rs.74,87,580, was initially levied under Section 271(1)(c) of the Income Tax Act due to transfer pricing adjustments. The CIT(Appeals) had previously deleted this penalty, leading to the Revenue's current appeal to the Income Tax Appellate Tribunal.

Court :
ITAT Pune

Brief :
This appeal by the Revenue is directed against the order dated 18.08.2017 pa*ssed by the ld. CIT(Appeals)-13, Pune in relation to the assessment year 2010-11, deleting penalty of Rs.74,87,580/- imposed by the Assessing Officer (AO) u/s.271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as „the Act‟).

Citation :
ITA No. 2620/PUN/2017

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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