TMI Blog2010 (8) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant. Mr. Ram Lal Gupta, Advocate for the respondent. AJAY KUMAR MITTAL, J. 1. This order shall dispose of ITA Nos. 256 and 257 of 2003 as the same are against one assessee and arise out of the same order. The facts are being taken from ITA No. 256 of 2003. 2. ITA No. 256 of 2003 has been filed by the revenue under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 30.6.2003 passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (hereinafter referred to as "the Tribunal") in ITA No. 175 (ASR)/1997 for the assessment year 1988-89 proposing the following substantial question of law:- "Whether in the facts and circumstances of the case, the Income-tax Appellate Tribunal is j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00/-. Against the order of the Assessing Officer, the assessee filed an appeal before the Commissioner of Income Tax (Appeals) [in short "the CIT (A)], who vide order dated 12.12.1996 deleted the penalty. Against the deletion of penalty, the revenue preferred an appeal before the Tribunal. The Tribunal vide order dated 30.6.2003 upheld the order of the CIT (A) and dismissed the appeal of the revenue. Hence, the present appeal. 4. We have heard learned counsel for the parties and perused the record with their assistance. 5. Learned counsel for the revenue submitted that the Tribunal had erroneously deleted the penalty levied under Section 271 (1)© of the Act. The revenue had detected the concealment and the filing of the revised return b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns recorded by the Tribunal would be advantageous to refer to, which read as under:- "It is true that in the instant case, the assessee filed voluntary return on 16.6.1989 for both the assessment years under consideration on the basis of which the AO completed the assessment on 28.12.1989. It is noticed that the AO had not initiated penalty proceeding while processing the original returns under section 143(1) of the Act. The notices under section 148 were also issued after the completion of three months and 22 days for the assessment year 1987-88 and three months and 8 days for the assessment year 1988-89 from the receipt of the report of the ADI and in the meanwhile, the AO had already made thorough enquiries from the banks regarding the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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