TMI Blog2008 (7) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... tisfaction that the assessee has concealed the income - Tribunal has also found that penalty is not imposable if there is no conscious breach of law - questions of law as raised by the revenue do not arise - 257 of 2008 - - - Dated:- 1-7-2008 - SATISH KUMAR MITTAL and RAKESH KUMAR GARG JJ. Sanjeev Kaushik, Advocate for the appellant-revenue. JUDGMENT The judgment of the court was d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 271(1)(c ) of the Act for concealment of income be not imposed and thereafter vide order dated 1.11.2004 passed by the Assistant Commissioner of Income Tax, Karnal Circle, Karnal a penalty of Rs.82,436/- was imposed upon the assessee. The Commissioner of Income Tax (Appeals) Karnal, vide his order dated 9.9.2005 accepted the appeal filed by the assessee against the penalty order dated 1.11.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2007 passed by the Income-Tax Appellate Tribunal, Delhi Bench 'I', New Delhi (for short, the ITAT) in ITA No.4330/Del/2005 for the assessment year 1996-97 raising the following substantial questions of law:- "1. Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was right in law in sustaining the order of the Commissioner of Income-tax (Appeals) [CIT(A)], canceling the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have heard Sh. Sanjeev Kaushik, learned counsel for the revenue and have also perused the impugned order. 5. No doubt, the Tribunal has found that penalty proceedings were initiated by the Assessing Officer without recording the satisfaction that the assessee has concealed the income but it has also given a categoric finding that no specific infirmity has been pin pointed by the revenue in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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