2009 (10) TMI 943

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... RAGHUNATH ORDER Ramachandran Nair, J.  All the above appeals are filed by the Revenue against the orders of the Income Tax Appellate Tribunal disposing of the assessment and penalty appeals of the assessee for the assessment years 2001-02 to 2004-05. The facts leading to the case are the following: 2. The assessee, a Non-Resident Indian, was found to have made various investments....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....roposed penalty under section 271(1)(c) of the I.T.Act for concealment of income to the tune of Rs. 3,39,000/-. The assessee specifically raised objection stating that assessments were agreed assessments and additions for the first three years at the rate of Rs. 3,39,000/- and for 2004-05, Rs. 3.5 lakhs were agreed by the assessee. However overruling the objection by the assessee, the assessing of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nalty under section 271(1)(c) of the IT Act. Since the assessments were agreed assessments, no appeals are maintainable against the assessment orders and assessee was in fact compelled to challenge assessments only because he had to defend penalty orders which could be effectively done by challenging assessments. The Tribunal's finding that appeals are not maintainable, because the tax amount ....