2008 (2) TMI 330

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rt was delivered by Rakesh Kumar Garg, J. - The revenue has filed the present appeal under Section 260-A of the Income Tax Act against the order dated 19-04-2007 passed by the Income Tax Appellate Tribunal, Delhi Bench 'H' New Delhi in ITA No.327/DEL/ 2006  for the Asstt. Year 1996-97 raising the following substantial questions of law:- (a) Whether the Hon'ble ITAT was right in law in d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Sh. Tek Ram, HUF for the assessment year 1996-97. In response, the assessee filed return declaring an income of Rs.47,310/- on 30.03.99 in the status of Individual. The assessment was completed u/s 143(3) of Income Tax Act in the status of HUF by the then ITO Ward-8, Faridabad vide order dated 31.1.2001 at an income of Rs.47,90,850/-. This order was later on set aside by Ld. CIT(A) vide consolida....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he penalty proceedings was accepted by the Commissioner of Income Tax (Appeals), Faridabad vide his order dated 25.11.2005.  While allowing the appeal, the Commissioner of Income Tax (Appeals) held that the taxability of the enhanced compensation and interest thereon is the matter of litigation and the issue has not been finally settled and therefore, there was a bona fide belief on the part ....