TMI Blog2010 (12) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... ecution was initiated on the investigation pending on the date VDIS benefit was sought, as such, it can not be said that assessee was one of such persons to whom clause (b) of section 78 of Finance Act, 1997, applied - question of law stands answered in favour of the assessee - 54 of 2003 - - - Dated:- 23-12-2010 - Prafulla C. Pant, Sudhanshu Dhulia, JJ. Shri Arvind Vashisth Advocate, present for appellants Shri Siddhartha Singh, Advocate, present for the assessee/respondent This appeal preferred under section 260A of Income Tax Act, 1961, (for short ITA), is directed against the order dated 06.08.2002, passed by Incom Tax Appellate Tribunal (for shor ITAT) Delhi, Bench F, in ITAT No. 427/Del/2001(assesment year 1993-1994) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000-2001 before Commissioner of Income Tax (Appeals) {for short CIT (Appeals)}. However, said authority partly allowed the appeal but rejected the benefit of VDIS, vide its order dated 14th of November 2000. Consequently assessee preferred an appeal ITA NO. 427/Del/2001 before ITAT Delhi which was allowed vide impugned order dated 06.08.2002, holding that the assessee was entitled to the VDIS as there was no prosecution pending against her. (4) Heard learned counsel for the parties at length and perused the impugned order passed by ITAT. (5) Before further discussion, we think it just and proper to quote the relevant provision of law. Section 78 (b) of Finance Act, 1997, provides as under:- 78. Scheme not to apply to certain persons :- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w of section 78 (b) of the Finance Act, 1997, quoted above, the assessee was not entitled to the benefit of VDIS. In the appeal, CIT (Appeals) also took the same view. But in the appeal before the ITAT the contention of the assessee was accepted. (6) It is argued on behalf of the revenue before us that VDIS was not available in relation to the prosecution for the offence punishable under Chapter XVII of IPC and the offence punishable under Prevention of Corruption Act, 1988. It is not disputed that a First Information Report was registered by CBI against the assessee on 26.09.1994. It is also evident that VDIS was floated only in the year 1997 through Finance Act, 1997, and assessee disclosed her income, and got a certificate issued fro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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