2018 (10) TMI 1602

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....or Respondent: Mr. T.R. Senthil Kumar   ORDER This appeal filed by the Revenue, under Section 260-A of Income Tax Act, 1961 (herein after "the Act" for the sake of brevity) is directed against the order passed by the Income Tax Appellate Tribunal 'A' Bench in ITA No. 2335/Mds/2006, dated 30.11.2007 for the assessment year 2001 to 2002. 2. The appeal has been admitted, vide or....

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....ial Questions of Law, which have been framed for consideration, are covered by the decision of this Court in Velayudhaswamy Spinning Mills (P) Ltd., Vs. Assistant Commissioner of Income Tax,[(2010) 231 CTR(Mad) 368]. Thus, the question would be as to whether the Revenue can pursue the present appeal, which is an appeal filed against the order challenging the penalty imposed under Section 271(1)(c)....

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....or not. 7. At the relevant point of time, the law which held the field was as laid down by this Court in the case of CIT Vs. George Oakes Ltd. [(1992) ITR 288 (Mad)]. This decision was rendered following the decision of the Hon'ble Supreme Court in Sassoon J.David & Co. (P) Ltd. vs. CIT [(1979) 118 ITR 261 (SC)] as well as the earlier decision of the Division Bench of this Court in CIT Vs. ....