TaxTMI 
TaxTMI 
2008 (3) TMI 43
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.... These two appeals filed by the Revenue are directed against the order dated 25.4.2007 of the Income Tax Appellate Tribunal, Chandigarh Bench-B, Chandigarh passed in ITA No.769/Chandi/2006 and 770/Chandi/206 for the assessment year 1997-98 and 1999-2000 raising common issues and having identical facts, therefore, these are being disposed of by one consolidated order. The common issue involved in b....
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.... against the assessee. The assessee filed appeal before the Commissioner of Income Tax(Appeals) against the additions who vide order dated 5.3.2001 restricted the addition. The appeal filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) on quantum was dismissed by the Income Tax Appellate Tribunal vide order dated 30.5.2005. Since the assessee had furnished inac....
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....ioner of Income Tax(Appeals) were only on estimate basis and therefore, following the law laid down by this Court in Commissioner of Income Tax Vs. M. M. Rice Mills 253 ITR 17, held that in a case where additions have been made on the basis of estimate penalty cannot be imposed. Accordingly, the penalty levied by the Assessing Officer was deleted by the Commissioner of Income Tax (Appeals). Agains....