2005 (1) TMI 38

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.... by G.S. Singhvi J.- In this appeal filed under section 260A of the Income-tax Act, 1961 (for short, "the 1961 Act"), the appellant has prayed for determination of the following substantial questions of law: "(i) Whether the order of the learned Income-tax Appellate Tribunal is sustainable in the eyes of law when no speaking order has been passed on the issues involved? (ii) Whether the l....

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....alty has been imposed upon the appellant-firm and no such demand of penalty has been paid by it?" A perusal of the record shows that the appellant (hereinafter described as "the assessee"), is engaged in the business of manufacturing oil. Its business premises were inspected by the sales tax authorities on May 7, 1992. Thereafter, proceedings for imposition of penalty under the Haryana General ....

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....961 Act. Later on, he initiated reassessment proceedings under section 143(2) of the 1961 Act and made addition of Rs. 1,59,150 by placing reliance on the orders passed under the 1973 Act. The Assessing Officer also initiated penalty proceedings under section 271(1)(c) of the 1961 Act. The appeal filed by the appellant was partly allowed by the Commissioner of Income-tax (Appeals), Rohtak. He dele....

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....ders passed under the 1973 Act. The assessee has challenged the Tribunal's order on the ground that it does not fulfil the requirement of a speaking order. In our opinion, it is not necessary to finally adjudicate on the various questions of which determination has been sought by the assessee because we are convinced that order dated March 18, 2004, passed by the Tribunal is liable to be set as....