9911796707
TMI Blog2010 (5) TMI 890X X X X Extracts X X X X X X X X Extracts X X X X ..... hese are disposed of by this common order for the sake of convenience. 3. Various grounds raised by the assessee in its appeal being IT(SS)A. No. 95/AHD/2007 are as under :- "(1) On the facts and in the circumstances of the case as well as law on the subject, the ld. Commissioner of Income Tax (Appeals) has erred in confirming the action of the Assessing Officer in taking action u/s. 158BD of the Act after lapse of about 5 years. (2) On the facts and in circumstances of the case as well as law on the subject, the ld. CIT(A) has erred in partly confirming the action of the AO in making addition of Rs. 2,10,087/- out of total addition of Rs. 4,82,098/- made by A.O. for alleged undisclosed income for block period. (3) On the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings in the case of person searched from which the proceedings under section 158BD of the Act against the assessee, were initiated. On this basis, he submitted that the assessment framed by the Assessing Officer be quashed. 6, On the other hand, Shri Sanjeev Kashyap, Sr. D.R. appearing on behalf of the Revenue could not controvert the aforesaid submissions made by the ld. counsel of the assessee. 7. We have carefully gone through the orders of authorities below. We admit the additional ground for adjudication in view of the judgment of the Hon'ble Supreme Court in the case of National Thermal Power Corporation Ltd. -vs.- CIT [1998] 229 ITR 383 (SC). Admittedly, in this case, search under section 132 of the Act was carried out in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in the case of person searched i.e. Ohm Developers. 10. Now we take up the appeal being IT(SS)A. No. 96/AHD/2007 filed by the assessee. The only ground raised by the assessee in his appeal reads as under :- "On the facts and in circumstances of the case as well as law on the subject, the learned Commissioner of Income Tax (Appeals) has erred in partly confirming the action of Assessing Officer in imposing penalty u/s. 158BFA of the I.T. Act, 1961 by sustaining penalty to the extent of 100% of tax on the amount of addition of Rs. 3,05,109/- sustained by him in quantum appeal". 11. In quantum appeal filed by the assessee in ITA No. 95/AHD/2007, the assessment framed by the Assessing Officer is quashed, therefore penalty of Rs. 3,05,109 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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