9911796707
TMI Blog2008 (2) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... quantum of income assessed, which forms the basis for levy of the penalty, has not attained its finality – Held, yes – revenue’s appeal dismissed - 530 of 2007 - - - Dated:- 18-2-2008 - SATISH KUMAR MITTAL and RAKESH KUMAR GARG JJ. S.K. Garg Narwana, Advocate for the appellant-revenue. JUDGMENT The judgment of the court was delivered by Rakesh Kumar Garg, J. -1. The present appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee, these penalty proceedings were kept in abeyance as the assessee had filed an appeal before the Commissioner of Income Tax (Appeals), Chandigarh. The appeal was decided by the Commissioner of Income Tax (Appeals), Chandigarh, vide his order dated 2.3.2001 and additions of Rs.2,00,000/- on account of unexplained investment in the construction of M/s RPS Hotel and of Rs.10,00,000/- on ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The appeal filed by the assessee against the order of penalty was dismissed by the Commissioner of Income Tax (Appeals), Chandigarh vide his order dated 3.2.2006. However, the Tribunal vide its order dated 10.4.2007 allowed the appeal filed by the assessee and quashed the penalty order. Hence, this appeal by the revenue against the said order of ITAT. 6. We have heard Mr. S.K. Garg Narwana, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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