9911796707
TMI Blog2007 (11) TMI 70X X X X Extracts X X X X X X X X Extracts X X X X ..... ated:- 26-11-2007 - K. L. MANJUNATH and N. ANANDA JJ. JUDGMENT The judgment of the court was delivered by K. L. MANJUNATH J.— This reference is sent by the Income-tax Appellate Tribunal to give our opinion on questions of law framed in paragraph 7 of its order. 2 At the time of arguments learned counsel appearing for the parties submits that on the facts of this case, this cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der section 143(1) (a) of the Act. Accordingly, notice was issued to the assessee. It was revealed that the assessee had disclosed a short-term capital gains of Rs. 4,02,450 in respect of sale of property bearing No. 192, Jalahobli, Devanahalli Taluk. The assessee has shown sale proceeds of Rs. 18,70,000 and claimed deduction of Rs. 10,17,750 towards purchase of property and Rs. 4,50,000 towards c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stamp duty has been paid by M/s. Prestige group and in their return of income-tax the same is reflected. If it is so, on facts we cannot interfere with the findings of authorities below with regard to stamp duty. Therefore, question No. 2 has to be answered against the assessee. 5 In regard to question No. 1, pursuant to the order passed by the Assessing Officer penalty proceedings were initia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hold against the assessee. Our views are also supported by the orders of the Tribunal in penalty proceedings wherein the case of the assessee has been accepted. There cannot be two views on the same issue when the matter is considered by the same authority. 6 In the circumstances, we have to allow this appeal in part in answering question No. 1 in favour of the assessee holding that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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