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TMI Blog2009 (10) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... delivered by 1. ADARSH KUMAR GOEL J.-The Revenue has preferred this appeal under section 260A of the Income-tax Act, 1961, against the order of the Income-tax Appellate Tribunal (Chandigarh Bench "A") passed in I. T. A. No. 1041/Chandi/2005, dated June 7, 2006, for the assessment year 1995-96, proposing to raise the following substantial questions of law: "(i) Whether, on the facts and in the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l society engaged in marketing of sugar by its members. The said claim was rejected on the ground that the claim was available only on marketing of agricultural produce and not on manufactured article. While disallowing the said claim, penalty was also levied for making wrongful claim and thereby avoiding tax. The said view was upheld by the Commissioner of Income-tax (Appeals) but the Tribunal ev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. This being the position, there could be no scope for levy of penalty. However, learned counsel for the Revenue submits that wrong claim of the assessee was not only under section 80P of the Act but also under section 80P(2) of the Act in respect of depreciation on guest house. 4. From the order of the Tribunal, we do not find any such point having been raised by the Revenue. In any case, reaso ..... X X X X Extracts X X X X X X X X Extracts X X X X
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