TMI Blog2010 (9) TMI 1277X X X X Extracts X X X X X X X X Extracts X X X X ..... of penalty under section 271(1)(c) of the Income-tax Act on the very same assessee for the assessment years 1982-83 and 1983-84. For the assessment year 1982-83, the Tribunal granted partial reduction in penalty against which department as well as assessee filed appeals and consequently there are two appeals for the year 1982-83. The other appeal, I.T.A. No. 272 of 2002 for the year 1983-84 is fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n evidence collected during search and in assessment appeal, the additions were confirmed. However in penalty proceedings the Tribunal found that out of ₹ 15 lakhs of penalty levied, ₹ 6,74,600 represented estimated income in respect of which penalty cannot be levied. The case of the assessee is that penalty is not at all leviable as no concealment is proved. After hearing both sides a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case of concealment and the authorities rightly levied penalty. So far as departmental appeal is concerned, we do not think there is any need to interfere with the Tribunal's order because Tribunal has taken a lenient view in respect of estimated income which is not positive income concealed, but suppression noticed by the department. We therefore dismiss the appeals filed by the assessee and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... department. The contention that there cannot be penalty in respect of additional income offered is negatived by this Court in the first round of litigation vide judgment in CIT v. D.K.B. Co. [2000] 243 ITR 618 . When the matter went back to the Tribunal after remand by this Court, the Tribunal found that the department obtained materials during search which justify addition of higher amount and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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