Law:

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Section 271(1)(c) of the Income-tax Act, 1961 - Penalty - For concealment of income - Assessment year 1999-2000 Where penalty had been deleted because additions made in respect of capital gains were deleted in appeal, but departmental appeal deleting additions was pending, question of levy of penalty would arise only if such appeal was allowed The appeal preferred by the revenue before the Tribunal against deletion of penalty had been dismissed primarily on the ground that the additions made in respect of capital gains were deleted. On appeal against the Tribunal's order upholding the deletion of penalty: Held that, as the penalty had been deleted because additions made in respect of capital gains were deleted in appeal, but departmental appeal deleting additions was pending, question of levy of penalty would arise only if such appeal was allowed. Aravind, Aravind Chauhan and M.V. Seshachala for the Appellant. JUDGMENT Deepak Verma, J. - Heard Sri Aravind and Aravind Chauhan, for Sri M. V. Seshachala, learned counsel for the appellants, on the question of admission. 2. This appeal is at the instance of the Revenue under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), against the order dated September 19, 2007, passed by the Income-tax Appellate Tribunal, Bangalore Bench "B", in the appellants' I.T.A. No. 908/Bang/2006 for the assessment year 1999-2000. 3. The appeal preferred by the Revenue before the Tribunal has been dismissed primarily on the ground that the additions made in respect of capital gains were deleted, vide order dated September 4, 2006.…

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