The Commissioner Of Income Tax, Jalandhar-Ljalandhar v. M/S Gulati & Co

ITA No. 292 of 2005 (O&M)Date of decision: 22.01.2016 The Commissioner of Income Tax, Jalandhar-lJalandhar ...Appellant Vs. M/s Gulati & Co. ...KNespondent CORAM:HON'BLE MR. JUSTICK AJAY KUMAR MITTALHON'BLE MRS. JUSTICE RAJ RAHUL GARG Present :Mr. Yogesh Putney, Advocate forMr. Vivek Sethi, Advocatefor the appellant-revenue. Mr. S. K. Mukhi, Advocatefor the respondent. AJAY KUMAR MITTAL, J. (Oral) Challenge in this appeal is to the levy of penalty under Sections2/1D and 271E of the Income Tax Act, 1961 which have been reduced by theTribunal. The penalty imposed under Sections 271D and 271E was to theextent of|“2,99,819/- and“2,99,819/- total of which comes to |L) !& "*&'(%The amount involved being much less than prescribed in Circular No. 21/2015,dated 10.12.2015, the learned counsel for the appellant-revenue states that insuch matters where the tax effect involved is less than 20 lacs, he hasinstructions to withdraw the present appeal in view of the circular No. 21/2015,dated 10.12.2015 issued by the C.B.D.T., New Delhi. However, he prayed thatliberty be granted to the revenue to file an application for revival of the appealIn case something survives therein. Dismissed as withdraw with liberty as prayed for. It 1s, however,clarified that withdrawal of the appeal by the revenue shall not be taken to bealfirmation of order of the JIribunal on merits. Further, the legal issue aclaimed by the revenue is being left open to be adjudicated in an appropriateCASNC. (AJAY KUMAR MITTAL)JUDGE 22.01.2016MOHAMMAD WASEEM ANSARI2016.01.28 15:34VUALSCI attest to the accuracy andintegrity of this document (RAJ RAHUL GARG)JUDGE