TMI Blog2008 (2) TMI 330X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 271(1)(C) - view of assessee regarding non taxability of enhanced compensation was bona fide – hence ITAT was right in conforming additions but deleting penalty – revenue appeal dismissed - 491 of 2007 - - - Dated:- 20-2-2008 - SATISH KUMAR MITTAL and RAKESH KUMAR GARG JJ. Yogesh Putney, Advocate for the appellant-revenue. JUDGMENT The judgment of the court was delivered by Rak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a fide particularly in view of provisions of Section 45(5) of Income Tax Act?" 2. On the basis of information received from HUDA office, Faridabad that the assessee-respondent received additional compensation as well as interest on additional compensation on acquisition on land by the State Government, proceedings were initiated u/s 148 on 21.10.98 in the case of Sh. Tek Ram, HUF for the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder dated 28.3.2005 held that he is satisfied that the assessee has concealed the particulars of his income amounting to Rs.49,04,535/- for assessment year 1998-99 and therefore, the assessee is liable to pay penalty under Section 271(1) (C) of the Act, equal to 100% of tax sought to be evaded. 3. The appeal filed by the assessee against the order of the penalty proceedings was accepted by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt (ITA No.579 of 2007 ) of this Court dated 4.2.2008 wherein similar question of law on the similar facts were raised by the revenue and the appeal filed by the Department-revenue has been dismissed by this Court and it has been held no question of law arises. In view of the fair stand taken by the learned counsel for the appellant, we find no ground to interfere in the findings of fact given by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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