2014 (12) TMI 1180

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....: Shri Love Kumar Shri S.D.Srivastava ORDER PER BENCH: ITA Nos. 3330 & 3401/M/2013 are cross appeals by the assessee and the Revenue for A.Y. 2002-03. ITA Nos. 3329 & 3402/M/2013 are the cross appeals by the assessee and the Revenue for A.Y. 2004-05. ITA No. 3403/M/2013 is appeal by the Revenue for A.Y. 2006-07. All these appeals were heard together and disposed of by this common order fo....

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.... and the appeal filed by the Revenue is also dismissed. ITA No. 3402/M/13 - A.Y. 2004-05 - Revenue's appeal ITA No. 3329/M/13- A.Y. 2004-05 - Assessee's appeal 4. The assessee is aggrieved by upholding the levy of penalty u/s. 271(1)(c) of the Act in respect of gifts received and the Revenue is aggrieved by the deletion of the penalty in respect of Long Term Capital Gains offered by the a....