TMI Blog2013 (12) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... fect is less than four lac and there being neither any question of recurring nature nor has any cascading effect - Decided against Revenue. - Income Tax Appeal No. - 426 of 2008 - - - Dated:- 14-3-2013 - Hon'ble R.K. Agrawal And Hon'ble Abhinava Upadhya,JJ. For the Petitioner : S. C./A. N. Mahajan ORDER Present appeal under Section 260-A of of the Income Tax Act, 1961 (hereinafter r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urn filed voluntarily and before by detection by the department without appreciating that the return filed on 27.3.2003 can not be said to be a revised return within the meaning of section 139(5) of the Act and the act of concealment was completed in its original return filed on 29.10.2011?" The appeal relates for the Assessment Year 2001-2002. The respondent-assessee is a partnership firm and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2003 was issued. The assessee filed its reply stating that the mistake was rectified by voluntarily showing income of Rs. 5,08,395/- as income from capital gains in the revised return filed on 27.3.2003. The Assessing Officer rejected the contention of the assessee and vide order dated 27.4.2004 imposed penalty of Rs. 1,99,291/- under section 271(1)(c) of the Act. The assessee preferred an appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 27.3.2000 issued under Section 268-A of the Act where the monetary limit has been fixed for filing an appeal under various forums and the limit fixed for this High Court is four lacs. As in the present case monetary effect is less than four lac and there being neither any question of recurring nature nor has any cascading effect, in our considered opinion, the Revenue ought not to have filed the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
