Ita/680/2005 Of (O&M) The Commissioner Of Income Tax-1 v. Subhash Gupta

ITA No. 680 of 2005 (O&M) -|- IN THE HIGH COURT QORKR PUNJAB AND HARYANA.AT CHANDIGARH ITA No. 680 of 2005 (O&M) Date of Decision: 11.04.2016 The Commissioner of Income Tax-I, Chandigarh ....... Appellant *#+&,& Shri Subhash Gupta| ...... Respondent CORAM: HON'BLE MR. JUSTICK RAJESH BINDAL,HON'BLE MR. JUSTICE HARINDER SINGH SIDHU Present:Ms. Urvashi Dhugga, Advocatefor the appellant. RAJESH BINDAL,J. This appeal has been filed under Section 260 A of theIncome Tax Act, 1961 (for short ‘the Act’), against the order dated11.5.2005 passed by the Income Tax Appellate Tribunal, ChandigarhBench (A), in ITA No. 527/Chandi/2002, for the assessment year1990-91, raising the following substantial question of law; Whether the Hon'ble Tribunal was legally correct tohold that the benefit of immunity from all penaltieswas contetred to the assessee under Kar vivadSamadhan Scheme, 1998 including penalty leviableunder Section 271 D, when the issue regarding cashloan was not covered under the declaration underKar Vivad Samadhan Scheme, 1998? Learned counsel for the appellant-revenue submitted thatin view of circular No.21/2015 dated 10.12.2015 read with circularNo.279/Misc/M-142/2007-ITJ (Part) dated 8.3.2016, issued by CentralBoard of Direct Taxes, she does not wish to press the present appeal, asthe tax effect involved is less than |L20 lacs. However, she prays thatliberty be granted to the revenue to file an application for revival of theappeal in case something survives therein, Dismissed as not pressed with liberty as prayed for. It ishowever, Clarified that withdrawal of the appeal by the revenue shallnot be taken as affirmation of order of the Tribunal on merits. The legalissue aS Claimed by the revenue is left open to be adjudicated in anappropriate case. (RAJESH BINDAL)JUDGE 11.04.2016+##0! (HARINDER SINGH SIDHU)JUDGE