2007 (9) TMI 256

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....DGMENT 1. These appeals under Section 260(A) of the Income Tax Act, 1961 ('Act') are directed against the common order dated 30th November, 2005 passed by the Income Tax Appellate Tribunal ('Tribunal') Delhi Bench "A", New Delhi in I.T.A. No. 3673 and 3674/Del/01 for the Assessment Years 1995-96 and 1996-97 respectively. 2. By the impugned order, the Tribunal dismissed the appeals filed by t....

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...., the Tribunal held against the Revenue on this ground and upheld the order of the Commissioner of Income Tax (Appeals). 4. The Tribunal considered the case on merits and found that for both the assessment years, the Assessing Officer had disallowed certain claims and made certain additions. It found that the Revenue had been unable to demonstrate that the Assessee had concealed any income or f....

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.... be said to have been recorded even in cases where satisfaction is not recorded in specific terms but is otherwise discernible from order passed by the authority?" 6. She accordingly urged that this Court should await the decision of the Larger Bench. 7. Assuming the Revenue were to succeed before the larger Bench, and the question referred to it is answered in the affirmative, it would mean....

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....be initiated against the Assessee under Section 271 (1)(c) of the Act is discernible therefrom. 8. At the foot of the assessment orders, the Assessing Officer had observed: "Issue necessary forms. Penalty proceedings 271 (1)(c) have been initiated separately." 9. The above recording does not satisfy the requirement of Section 271 (1) (c) of the Act as explained by this Court in Ram Commer....