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2015 (7) TMI 742 - DELHI HIGH COURT

2015 (7) TMI 742 - DELHI HIGH COURT - TMI - Penalty under Section 271(1)(c) - Held that:- The only ground urged before this Court by Ms. Suruchi Aggarwal, learned Senior Standing counsel for the Revenue is that the Assessee had deliberately claimed revenue receipt as capital receipt. Since that question was itself in dispute and put in issue in the assessment proceedings involving the Assessee, the Court finds no error whatsoever in the CIT (A) holding that there was no deliberate concealment of .....

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f. ITA Nos. 378/2015 & 379/2015. 3. These appeals by the Revenue are directed against the common order dated 10th November 2014 passed by the Income Tax Appellate Tribunal ('ITAT') dismissing the Revenue's appeals ITA Nos. 5432, 5433, 5434, 5435, 5436, 5437, 5438 and 5485/DEL/2010 for assessment years (AYs) 1989-90, 1990-91, 1991-92, 1992-93, 1993-94, 1995-96, 1996-7 and 1994-95. 4. The brief facts relevant for the purposes of these appeals are that the premises No. A-33, Kailash .....

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o Supreme Court, in terms of the said Award, the Assessee received a payment of ₹ 4,91,98,124 for rent and interest on arrears of rent minus the tax deducted at source ('TDS') which worked out to ₹ 10,04,043. 5. In the assessment proceedings for the aforementioned AYs, one of the questions that arose was whether the arrears of rent and interest thereon was a capital receipt or a revenue receipt. The ITAT by its order dated 6th October 2006 held that the amount received by the .....

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