2016 (7) TMI 405

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..... for the Appellant Mr. A. K. Jasani, for the Respondent ORDER P. C. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 10th May, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order relates to the Assessment Year 2004-05. 2 The Revenue urges only the following questions of law for our consideration: .....

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..... al provisions without appreciating the fact that the assessment was finalized under the normal provisions of the Income Tax Act and not u/s. 115JB? . 3 Re Question (a): (a) As it evident from the question formulated for consideration, the grievance of the Revenue to the impugned order of the Tribunal is that it holds that no penalty is imposable as in quantum appeal, the Respondent-Assesse .....

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..... well as the order dated 31st March, 2011 of the Assessing Officer imposing penalty, it is clear that the Respondent-Assessee was assessed to tax under the normal provision and not under Section 115JB of the Act. Thus, notwithstanding the answer to the question as formulated the entire issue is now academic. This is so, as in the quantum proceedings which formed the basis of penalty proceedings is .....

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