Itr/3/2006 Of Commr. Of Income Tax, Jalandhar v. Sh. Rajan Kumar

IN THERE HIGH COURT OR PUNJAB AND HARYANA|AT CHANDIGARH ITR No. 3 of 2006 (O&M) Date of Decision: 11.05.2016 Commissioner of Income Tax, Jalandhar ....... Appellant )"*%+% Shri Rajan Kumar ....Respondent CORAM: HON'BLE MR. JUSTICK RAJESH BINDALHON'BLE MR. JUSTICE HARINDER SINGH SIDHUHON'BLE MR. JUSTICE HARINDER SINGH SIDHU Present:Mr. Vivek Sethi, Advocate|for the appellant.for the appellant. RAJESH BINDAL,J. This reference has been filed in RA No.101/Chandi/96 arisingout of I.T.A. No.514/Chandi/91, tor the assessment year 1981-82, raisingthe following substantial question of law: Whether, on the facts and in the circumstances of thecase, the learned Income-tax Appellate Tribunal is rightin law in upholding the deletion of penalty under section2/1(1)(c ) of the Income-tax Act, 1961? Learned counsel for the appellant-revenue submitted that inview oft circular No21/2015 dated 10.12.2015 read with circularNo.279/Misc/M-142/2007-ITJ (Part) dated 8.3.2016, issued by CentralBoard of Direct Taxes, he does not wish to press the present referenceas the tax effect involved is less than ~v20 lacs. However, he prays thatliberty be granted to the revenue to file an application for revival of the ITR No. 3 of 2006 (O&M) reference in case something survives therein. Dismissed as not pressed with liberty as prayed for. It ishowever, clarified that withdrawal of the reference by the revenue shall notbe taken as affirmation of order of the Tribunal on merits. The legal issue asclaimed by the revenue is left open to be adjudicated in an appropriate case, 11.05.2016TEe M (RAJESH BINDAL)JUDGE(HARINDER SINGH SIDHU)JUDGE