Dismissing the appeal of the revenue just because the assessee has not filed an appeal against the disallowance of depreciation on contract for broadening of National Highway on Build-Operate-Transfer (BOT) basis. Tribunal rightly held that the assessee could not be held guilty of furnishing inaccurate particulars of income.
PCIT v. Himalayan Expressway Ltd. (2019) 267 Taxman 364 /(2020) 423 ITR 40(P&H)(HC)
S. 271(1)(c) : Penalty–Concealment-Build-Operate-Transfer (BOT)-Depreciation is disallowed – Appeal not filed – Deletion of penalty is held to be valid. [S. 32]