2018 (3) TMI 535

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....a Pawar, Advocate for the respondent. P.C. :- 1. This Appeal under Section 260-A of the Income Tax Act, 1961 (the Act), challenges the order dated 2nd September, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 2nd September, 2014 is in respect of Assessment Year 2005-06. 2. Revenue urges the following reframed question of law, for our consideratio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....his Court in Commissioner of Income Tax Vs. Nayan Builders & Developers (Income-Tax Appeal No. 415 of 2012) decided on 8th July, 2014 to hold that once Appeal has been admitted by this Court in quantum proceedings, then no penalty under the Act is sustainable. It holds that admission of an appeal is itself evidence of the issue being debatable. 5. This Court in Principal Commissioner of Income ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....fied, in the present facts. However, as its Appeal was being allowed on a legal issue, there was no occasion for them to urge this particular issue before the Tribunal. 7. In the above view, it would be appropriate that we set aside the impugned order of the Tribunal dated 2nd September, 2014 and restore the issue to the Tribunal for fresh consideration keeping in view the decision of our Court....