ILLAKSHI SYNTHETICS PVT. LTD. Vs. THE DY. CIT

JUDGEMENT

(1.) THIS appeal by the Assessee is directed against the order of the ld. Commissioner of Income Tax(Appeals) -I, Surat ['CIT(A)' in short] dated 21/06/2011 pertaining to Assessment Year (AY) 2004 -05. The Assessee has raised the following grounds of appeal: - -

(2.) "1. On the facts and in circumstances of the case as well as law on the subject, the learned Commissioner of Income -tax (Appeals) has erred in partly confirming the action of assessing officer in imposing penalty u/s. 271(1)(c) of the Act by sustaining the penalty on the addition of Rs. 1,93,813/ - on account of low G.P. and Rs. 19,800/ - on disallowance of depreciation on computer.

(3.) APPELLANT craves leave to add, alter or delete any ground(s) either before or in the course of hearing of the appeal."