2015 (11) TMI 1006

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....PER A. K. GARODIA, A.M. The appeal is filed by the Revenue and the Cross Objection is filed by the assessee, which are directed against the order of CIT(A)-II, Lucknow dated 08/10/2012 for assessment year 2008-09. 2. In its appeal, the Revenue has raised the following grounds: "1. The order of the learned CIT(A)-II, Lucknow is bad in law and erroneous on the facts of the case. 2. The l....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and not from the date of the assessment order. At this juncture, it was submitted by Learned A.R. of the assessee that as per the copy of the order sheet brought on record by the Revenue, the matter was referred by the Assessing Officer to Addl. CIT for imposition of penalty on 21.10.2010 and therefore, at least this date should be considered as a date of initiation of penalty proceedings if not ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....se on the expiry of six months from the end of the month in which the action for penalty is initiated. In the facts of the present case, the date of reference by the Assessing Officer to Addl. C.I.T. for imposition of penalty is 21/10/2010 and if the period of six months is counted from 31.10.2010, the same expires on 30/06/2011 and the penalty order has been passed on 28th July, 2011 and hence, t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nge (Cinema) [2008] 304 ITR 172 (Raj) in which it was held that if a partner introduces capital in cash in the firm or withdraws the same to the tune of Rs. 20,000/- or in excess, then provisions of section 269SS or 269T of the Act shall not be attracted because the introduction of capital or withdrawal from the firm cannot be called as loans or deposits. The copy of account of Shri Dhananjay Sing....