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2009 (10) TMI 943 - KERALA HIGH COURT

2009 (10) TMI 943 - KERALA HIGH COURT - TMI - I.T.A. Nos.24,15, 17, 19, 22, 23, 28 and 34 of 2009 - Dated:- 27-10-2009 - C.N. RAMACHANDRAN NAIR AND V.K. MOHANAN JJ. For Petitioner: SRI.JOSE JOSEPH, SC, FOR INCOME TAX For Respondent: SRI. P. RAGHUNATH ORDER Ramachandran Nair, J. All the above appeals are filed by the Revenue against the orders of the Income Tax Appellate Tribunal disposing of the assessment and penalty appeals of the assessee for the assessment years 2001-02 to 2004-05. The facts .....

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laimed by him. However, the assessee agreed for an addition of ₹ 3,39,000/- in the assessment for all these years. In other words, his explanation for the source of investment in excess of ₹ 3,39,000/-, ₹ 8,61,000/- was accepted by the officer merely because he agreed for addition of balance amount of ₹ 3,39,000/-. However, after completing assessments in all these years, on an agreed basis, the assessing officer proposed penalty under section 271(1)(c) of the I.T.Act for .....

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he appeals filed, the appellate authority allowed the appeals against which the Departmental appeals filed were dismissed by the Tribunal. While for the three years, cases were not decided on merits, for the remaining years, the Tribunal confirmed the order of the C.I.T (Appeals). It is against these orders of the Tribunal, Revenue has filed these appeals. 3. We have heard the Standing Counsel appearing for the appellants, and Sri P. Raghunath, the counsel appearing for the respondent. 4. We are .....

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