Itta/247/2015 Of The Prl Commissioner Of Income Tax [Central] v. G Sanjay Chowdhary

HON'BLE SRI JUSTICE G.CHANDRAIAH & HON’BLE SRI JUSTICE CHALLA KODANDA RAM I.T.T.A. No.247 of 2015 JUDGMENT:- (per Hon’ble Sri Justice Challa Kodanda Ram) This Appeal is filed by the Revenue under Section 260-A of the IncomeTax Act, 1961 (for short, “the Act”), questioning the order dated 30.10.2014,passed by the Income Tax Appellate Tribunal, Hyderabad Bench ‘B’,Hyderabad, in I.T.A. No.626/Hyd/2014, for the assessment year 2006-2007,raising the following question of law for consideration of this Court: i. Whether on the facts and in the circumstances of the case and inlaw, the Hon’ble Income Tax Appellate Tribunal is justified inconfirming the order of CIT (A) and thereby holding thattransactions through journal entry do not attract the provisionsof Sec.269T and consequently penalty is not leviable u/s.271Eof the I.T. Act, 1961?law, the Hon’ble Income Tax Appellate Tribunal is justified inconfirming the order of CIT (A) and thereby holding thattransactions through journal entry do not attract the provisionsof Sec.269T and consequently penalty is not leviable u/s.271Eof the I.T. Act, 1961? When the matter is taken up for hearing, the learned Senior Standing Counselfor the Department has fairly submitted that the issue involved in this matter issquarely covered by the order dated 02.07.2015 passed in I.T.T.A.No.66 of2015, wherein this Court, while dismissing the said appeal took intoconsideration of the judgment dated 31.01.2014 passed by a Division Bench ofthis Court in I.T.T.A.No.12 of 2014. In view of the same, we are of the opinion that the same result in I.T.T.A.No.66of 2015 would follow in the present I.T.T.A. Accordingly, the question of law raised in the present appeal is answeredin the affirmative i.e., in favour of the assessee and against the Revenue. Accordingly, this Appeal is Miscellaneous Petitions, if any pending, shall also stand dismissed. dismissed. No order as to costs. ____________________ G. CHANDRAIAH, J Date:08.10.2015 ssv ____________________________CHALLA KODANDA RAM, J