AI Drafter 
TaxTMI 
TaxTMI 
2010 (8) TMI 1059
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....d appeals for the assessment years 1998-99 and 1999-2000, there are cross-appeals, viz. one by the assessee and the other by the Revenue, for the assessment years 2000-01 to 2005-06. Since facts of the case and issues involved in all these appeals are common, these appeals are being disposed of by this consolidated order for the sake of convenience. Assessee's Appeals: ITA No.177/Hyd/10 : Asstt. Year - 2000-01 ITA No.178/Hyd/10 : Asstt. Year - 2001-02 ITA No.179/Hyd/10 : Asstt. Year - 2002-03 ITA No.180/Hyd/10 : Asstt. Year - 2003-04 ITA No.181/Hyd/10 : Asstt. Year - 2004-05 ITA No.182/Hyd/10 : Asstt. Year - 2005-06 ITA No.567/Hyd/10 : Asstt. Year - 1998-99 ITA No.568/Hyd/10 : Asstt. Year - 1999-2000 2. Ide....
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....esented by the pay-in-slips. The Tribunal, in the quantum appeals, vide its order dated 26.6.2009 estimated the income of the assessee out of the amounts mentioned in the pay-in-slips relating to Karnataka Bank at 15% of the total deposits and the additions made were reduced accordingly. In the penalty appeals, the CIT(A) has upheld the levy of penalty under S.271(1)(c) of the Act on the undisclosed income worked out at 15% of the deposits as per pay-in-slips relating to Karnataka Bank Ltd, and also directed the Assessing Officer to reduce the amounts of penalty to 100% of the tax sought to be evaded after giving effect to the directions of the Tribunal, and accordingly partly allowed the appeals of the assessee. The learned counsel for the....
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....o. He submitted that the retraction of the assessee from his initial statement came about eight and half months after the initial statement made by the assessee. He referred to the relevant paras of the orders of the Assessing Officer and the CIT(A) in support of his submission that the amounts mentioned in the pay-in-slips relating to Karnataka Bank in fact represents the undisclosed income of the assessee from his medical profession. 5. We have considered the rival submissions carefully and have perused the orders of the Assessing Officer and the CIT(A). We have also perused the copies of the statements made by the assessee, his wife recorded by the department. We find that the assessee could not identify the four persons whose name wa....
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....e. We find that the assessee has retracted from his original statement, after a gap of eight and half months after the recording of the original statement by the Department. Assessee admittedly is an employee of the company running the hospital and there is no material brought on record by the Department to suggest that the assessee has some independent practice of his own; and that the amounts mentioned in the pay-in-slips relating to Karnataka Bank Ltd. were the receipts relating to the assessee and were not the receipts of the company running the hospital. For the imposition of penalty, it has to be proved beyond reasonable doubt that the disputed income represents the concealed income of the assessee. The additions in the quantum app....
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.... erred in giving relief to the assessee by giving cognizance only to the order of the Hon'ble ITAT in assessee's case which is further appealed and yet to be decided by the Hon'ble High Court without going into the facts of the case and without making any specific and individual comments on the issues dealt in. 3. the ld. CIT(A) erred in allowing relief to the assessee by totally ignoring the order of the CIT(A). Tirupati in assessee's case for the same year wherein the assessee's appeal on the same issues filed against the order u/s. 143(3) r.w.s.153A was dismissed by the learned ld. CIT(A) by advancing proper reasoning and by making individual and specific comments on each issue." 7. The Learned Departmenta....