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Showing contexts for: parle agro in Parle Pet P. Ltd, Mumbai vs Department Of Income Tax on 20 July, 2011Matching Fragments
PER R.K. PANDA A.M. This appeal filed by the Revenue is directed against the order dt. 28.10.2009 of CIT(A)- 17, Mumbai relating to A.Y. 2004-05.
2. The only effective ground raised by the Revenue reads as under:-
"On the facts and in the circumstances of the case and in law, the ld CIT(A) erred in deleting the penalty of ` 39,05,601/- u/s 271(1)(c) of the I.T. Act without appreciating the facts of the case."
3. Facts of the case, in brief, are that the assessee is engaged in the activity of business service center, trading of packaged drinking water and health fitness center. The assessee company filed its return of income for A.Y. 2004- 05 on 30.10.2004 declaring total income at ` 6,37,04,300/-. While framing the assessment, the A.O. noted that the assessee company has let out an area admeasuring 11329 sq. ft. to M/s Parle International Pvt. Ltd., M/s Parle Sales & Services Pvt. Ltd., M/s Parle Agro Pvt. Ltd. and M/s Alnas Plastics Pvt. Ltd.