TMI Blog2013 (11) TMI 819X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee situated at Najafgarh Road and Okhla Industrial Area were substantially destroyed by a mob, when such mob forced their entry into the factory premises and burnt and damaged the trucks parked inside and set on fire the furniture and factory - Assessee has been given very nominal payment of insurance claim and that such amount had to be immediately invested in the repairs and maintena ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ta, J. Present reference under Section 256(1) of the Income Tax Act, 1961 (for short the Act ) arises out of an order passed by the Income Tax Appellate Tribunal (for short the Tribunal ) on 14.07.1993 referring the following substantial question of law pertaining to the assessment years 1982-83 and 1983-84: Whether, on the facts and in the circumstances of the case, the Appellate Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Commissioner imposed penalty of Rs.15,63,458/- and Rs.39,12,544/- for the Assessment Years 1982-83 and 1983-84 respectively. The appeals against the orders of penalty were dismissed by the Commissioner of Income Tax (Appeals), but the Tribunal in further appeals partly allowed the appeals filed by the assessee and cancelled the penalty for the period from 01.11.1984 onwards for both the years. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rials. Therefore the orders of penalty were quashed w.e.f. 01.11.1984 onwards. Though the Tribunal has taken into consideration the assessee s letter dated 22/25.03.1985 in respect of damages to the property for the first time in appeal before it, but the fact remains that such fact is uncontroverted by the Revenue. It is also matter of common knowledge that the assassination of Mrs. Indira Gand ..... X X X X Extracts X X X X X X X X Extracts X X X X
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