2014 (12) TMI 1180

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....va 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 for the sake of convenience. ITA No. 33....

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....ismissed. 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 assessee for tax as income from other sources pursuan....