Commissioner Of Income Tax, Karnal v. Vikas Bansal

ITA No.395 of 2005 IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH ITA No.395 of 2005 Decided on: 03.07.2013 Commissioner of Income Tax, Karnal ..... Appellant VERSUS Vikas Bansal ..... Respondent CORAM: HON'BLE MR. JUSTICE RAJIVE BHALLAHON'BLE MR. JUSTICE DR. BHARAT BHUSHAN PARSOON Present:Mr.Yogesh Putney, Advocate, for the appellant. Mr.Sanjay Bansal, Senior Advocate, with Mr.Rajiv Sharma, Advocate, for the respondent. ******* RAJIVE BHALLA, J. (ORAL) This order shall dispose of ITA No.395 of 2005 and ITANo.71 of 2006 as they involve adjudication of same questions of factsand law. For the sake of convenience, facts are being taken from ITANo.395 of 2005. The revenue has filed the present appeal under Section260A of the Income Tax Act, 1961, challenging the correctness oforder dated 29.10.2004, passed by the Income Tax Appellate Tribunal,Delhi Bench 'SMC-I', New Delhi, for the assessment year 1994-95. Counsel for the parties agree that the questions of lawframed in the present appeals have been answered in favour of therevenue inITA No.498 of 2005titled as “Commissioner of Income-Tax, Karnal Versus Puneet Chugh”, decided on 07.02.2011, and, therefore, the present appeals may be allowed in terms of theaforementioned judgment. In view of agreement between counsel for the parties, theappeals are allowed, order dated 29.10.2004, passed by the Income TaxAppellate Tribunal, Delhi Bench 'SMC-I', New Delhi, and order dated20.06.2005, passed by the Income Tax Appellate Tribunal 'B' Bench,Delhi, for the assessment year 1994-95, are set aside. [ RAJIVE BHALLA ] JUDGE 03.07.2013shamsher [ DR. BHARAT BHUSHAN PARSOON ] JUDGE