2010 (9) TMI 107

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..... two appeals have been filed under Section 260A of the Income Tax Act,1961 (for brevity "Act") challenging the common judgment and order dated 06th August, 2009 passed by the Income Tax Appellate Tribunal (in short "Tribunal") in ITAs No. 1480/Del/2008 and 799/Del/2009 for the Assessment Year 2005-2006. 2. It is pertinent to mention that while the first appeal is a quantum appeal, the second is a .....

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..... re the AO. 4. However, upon perusal of the impugned order, we find that the final fact finding authority namely, the Tribunal has found that the Commissioner of Income Tax (Appeals) [in short, "CIT(A)"] had wrongly treated the papers filed by the respondent-assessee as new evidence when from the written submissions filed by the respondentassessee before the CIT(A), it was apparent that the said d .....

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..... al paper book, we find that as the respondent-assessee Director's identity was established and the transactions were not denied, the initial burden cast on the respondentassessee stood discharged. Accordingly, the present quantum appeal, being bereft of merit, is dismissed. 7. Since we are not inclined to interfere in the quantum appeal, the second appeal pertaining to penalty is also dismissed.< .....

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