9911796707
TMI Blog2014 (9) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal is preferred against the order, dated 24.01.2003 passed by the Hyderabad Bench B of Income Tax Appellate Tribunal in I.T.A.No.1863/Hyd/1994 covering the assessment years 1986-87 and 1987-88. The appellant is an assessee under the Income Tax Act (for short the Act). He established a small private school and was running it. His income was assessed to tax for the two years referred to above. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey are only the result of calculations, and at any rate, he has already been subjected to tax on such amount. The respondent passed orders levying penalty of Rs. 20,000/- each for the two assessment years. The appellant moved the Commissioner (Appeals). Through order, dated 07.09.1994, the Commissioner allowed the appeals and has set aside the orders levying penalty. The Department filed I.T.A.No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not result in recovery of any specific amount as such. The record discloses that the appellant was subjected to such an extensive grilling that as many as 50 questions were put to him and the deposition itself runs to about 10 typed pages. Ultimately, the figures were arrived at, by taking into account, the number of students and the prescribed fee. It was not even noticed that in several cases, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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