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2017 (10) TMI 107 - KERALA HIGH COURTPenalty under Section 271D - review petition - Held that:- Agreement describes the extent of the property as 0.20 cents. Such description of the extent, would ordinarily be taken as 20 Sq. Links, as done by the Tribunal. On the other hand, if the extent was, in fact, 20 cents, the description should have been either as 20 cents or 0.20 acres. Therefore, the Tribunal cannot be faulted for its conclusion that the extent of the property is 0.20 Sq. Links. This being the factual situation, we are not persuaded to differ from the views taken by the Tribunal and in the judgment, relying on Annexure-A, a valuation report obtained subsequent to the judgment of this Court, now produced along with this review petition. Even otherwise, a reading of the order of the Income Tax Appellate Tribunal would show that, in paragraph 8 of its order, the Tribunal has given reasons (a) to (g) to hold that the theory that ₹ 15 lakhs was received by the assessee as property advance under the agreement, is not a convincing one. It is only in sub para (b) that the Tribunal has held the extent of the property to be 20 Sq. Links. Even if that finding is found to be vitiated, the other reasons given by the Tribunal in para 8(a) and (c) to (g) are independent of sub para (b) and are unassailable. Therefore, so long as these conclusions remain valid, which it should be, the conclusions as contained in sub para (b) cannot have any impact thereon. We are not persuaded to think that the judgment deserves to be reviewed.
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