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130 results for “condonation of delay”+ Section 271(1)(c)clear

Sorted by relevance

Mumbai559Delhi408Chennai296Kolkata278Ahmedabad270Jaipur221Bangalore189Pune179Surat131Hyderabad130Karnataka126Chandigarh89Indore86Cochin72Lucknow55Nagpur54Rajkot48Calcutta43Cuttack39Visakhapatnam37Guwahati27Patna27Agra26Ranchi24Amritsar22Raipur18Panaji17Jabalpur12SC11Allahabad10Dehradun7Jodhpur5Varanasi3Telangana2Punjab & Haryana2Andhra Pradesh1Rajasthan1

Key Topics

Addition to Income87Section 153C80Section 271(1)(c)78Section 143(3)75Section 14772Penalty53Section 14849Section 80I45Cash Deposit35

PARANJYOTHI THOTA,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

ITA 2079/HYD/2025[2012-13]Status: DisposedITAT Hyderabad25 Feb 2026AY 2012-13

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha G.आ.अपी.सं /Ita Nos. 2050 & 2079/Hyd/2025 (निर्धारण वर्ा/Assessment Year: 2012-13) Smt. Paran Jyothi Thota Vs. Asstt. Cit Hyderabad Circle 5(1) Pan:Ajqpt7772F Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Advocate C. Anurag रधजस् व द्वधरध/Revenue By: Dr. Sachin Kumar, Sr. Dr सुिवधई की तधरीख/Date Of Hearing: 12/02/2026 घोर्णध की तधरीख/Pronouncement: 25/02/2026 आदेश/Order Per Manjunatha, G. A.M. These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, Dated 09/09/2025 & 25/09/2025, For The Assessment Year 2012-13. Page 1 Of 33

For Appellant: Advocate C. AnuragFor Respondent: Dr. Sachin Kumar, Sr. DR
Section 142(1)Section 144Section 147Section 148Section 271(1)(c)Section 50C

Showing 1–20 of 130 · Page 1 of 7

Section 6832
Disallowance32
Limitation/Time-bar30

section 271(1)(c) of the Act. Thereafter, the assessee took steps to collect the order from the A.O for filing appeal before the Ld. CIT (A) and in the meantime it received the assessment order on 08/05/2023 and filed appeal on 16/05/2023 and therefore, claimed that there is no delay in filing the appeal

PARANJYOTHI THOTA,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

ITA 2050/HYD/2025[2012-13]Status: DisposedITAT Hyderabad25 Feb 2026AY 2012-13

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha G.आ.अपी.सं /Ita Nos. 2050 & 2079/Hyd/2025 (निर्धारण वर्ा/Assessment Year: 2012-13) Smt. Paran Jyothi Thota Vs. Asstt. Cit Hyderabad Circle 5(1) Pan:Ajqpt7772F Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Advocate C. Anurag रधजस् व द्वधरध/Revenue By: Dr. Sachin Kumar, Sr. Dr सुिवधई की तधरीख/Date Of Hearing: 12/02/2026 घोर्णध की तधरीख/Pronouncement: 25/02/2026 आदेश/Order Per Manjunatha, G. A.M. These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, Dated 09/09/2025 & 25/09/2025, For The Assessment Year 2012-13. Page 1 Of 33

For Appellant: Advocate C. AnuragFor Respondent: Dr. Sachin Kumar, Sr. DR
Section 142(1)Section 144Section 147Section 148Section 271(1)(c)Section 50C

section 271(1)(c) of the Act. Thereafter, the assessee took steps to collect the order from the A.O for filing appeal before the Ld. CIT (A) and in the meantime it received the assessment order on 08/05/2023 and filed appeal on 16/05/2023 and therefore, claimed that there is no delay in filing the appeal

DCIT, CIRCLE-2(2), HYDERABAD, HYDERABAD vs. HINDUPUR BIO-ENERGY PVT. LTD., HYD, HYDERABAD

In the result, the appeal of the assessee is dismissed, and the appeal of Revenue is allowed

ITA 1243/HYD/2016[2011-12]Status: DisposedITAT Hyderabad21 Dec 2023AY 2011-12

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12 Hindupur Bio-Energy Vs. The Deputy Commissioner Private Limited, Of Income Tax, Hyderabad. Circle 2(2), Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessment Year: 2011-12 The Deputy Commissioner Hindupur Bio-Energy Of Income Tax, Private Limited, Circle 2(2), Hyderabad. Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessee By: Shri M. Chandramouleswara Rao, C.A. Revenue By: Shri L.V. Bhaskara Reddy, Cit-Dr Date Of Hearing: 11.12.2023 Date Of Pronouncement: 21.12.2023

For Appellant: Shri M. ChandramouleswaraFor Respondent: Shri L.V. Bhaskara Reddy
Section 131Section 133ASection 143(2)Section 143(3)Section 14ASection 253(5)Section 271(1)(c)Section 274Section 68

condonation of delay stating therein the reasons for belated filing of appeal. The relevant portion of the said application reads as under : “…… 8. Appeal of the assessee has been allowed and the penalty levied u/s 271(1)(c) cancelled. Therefore, the appellant did not consider it necessary to file an appeal. 9. However, department has filed appeal against the order

HINDUPUR BIO-ENERGY PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee is dismissed, and the appeal of Revenue is allowed

ITA 644/HYD/2018[2011-12]Status: DisposedITAT Hyderabad21 Dec 2023AY 2011-12

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12 Hindupur Bio-Energy Vs. The Deputy Commissioner Private Limited, Of Income Tax, Hyderabad. Circle 2(2), Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessment Year: 2011-12 The Deputy Commissioner Hindupur Bio-Energy Of Income Tax, Private Limited, Circle 2(2), Hyderabad. Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessee By: Shri M. Chandramouleswara Rao, C.A. Revenue By: Shri L.V. Bhaskara Reddy, Cit-Dr Date Of Hearing: 11.12.2023 Date Of Pronouncement: 21.12.2023

For Appellant: Shri M. ChandramouleswaraFor Respondent: Shri L.V. Bhaskara Reddy
Section 131Section 133ASection 143(2)Section 143(3)Section 14ASection 253(5)Section 271(1)(c)Section 274Section 68

condonation of delay stating therein the reasons for belated filing of appeal. The relevant portion of the said application reads as under : “…… 8. Appeal of the assessee has been allowed and the penalty levied u/s 271(1)(c) cancelled. Therefore, the appellant did not consider it necessary to file an appeal. 9. However, department has filed appeal against the order

SRIMAD VIRAT POTTULURI VEERA BRAHMENDRA SWAMULA VARI MATTAM,CUDDAPAH vs. ITO., EXEMPTION WARD, TIRUPATHI

In the result, the appeal of the assessee in ITA No

ITA 1164/HYD/2025[2016-17]Status: DisposedITAT Hyderabad13 Feb 2026AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1164/Hyd/2025 ("नधा"रण वष"/Assessment Year: 2016-17) Srimad Virat Pottuluri Veera Vs. Income Tax Officer Brahmendra Swamula Vari Exemption Ward, Mattam, Kadapa. Tirupati. Pan: Aagts2599Q (Appellant) (Respondent) आ.अपी.सं /Ita No.2287/Hyd/2025 ("नधा"रण वष"/Assessment Year: 2016-17) Srimad Virat Pottuluri Veera Vs. Income Tax Officer, Brahmendra Swamula Vari Exemption Ward, Chittoor, Mattam, Kadapa. Tirupati. Pan: Aagts2599Q (Appellant) (Respondent) "नधा"रती "वारा/Assessee By: Shri Ravindra Chenji, Advocate (Through Hybrid Mode) राज" व "वारा/Revenue By:: Ms. Payal Gupta, Sr.Ar सुनवाई क" तार"ख/Date Of Hearing: 09/02/2026 घोषणा क" तार"ख/Pronouncement: 13/02/2026 आदेश/Order Per Madhusudan Sawdia, A.M.: The Captioned Appeals Are Filed By Srimad Virat Pottuluri Veera Brahmendra Swamula Vari Mattam (“The Assessee”), Feeling Aggrieved By The

For Appellant: Shri Ravindra Chenji, AdvocateFor Respondent: : Ms. Payal Gupta, Sr.AR

condonation of delay is rejected, and Page 5 of 12 ITA No.1164 & 2287/Hyd/2025 Srimad Virat Pottuluri Veera Brahmendra Swamula Vari Mattam consequently, the appeal filed by the assessee is dismissed as barred by limitation. 7. In the result, the appeal of the assessee in ITA No. 1164/Hyd/2025 is dismissed on account of limitation. ITA No.2287/Hyd/2025: 8. The brief facts

DEMI REALTORS,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee is partly allowed for statistical purposes on the above terms

ITA 156/HYD/2023[2008-09]Status: DisposedITAT Hyderabad05 Feb 2024AY 2008-09

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Respondent: Ms. T. Vijaya Lakhsmi, CIT-DR
Section 143(3)Section 37(1)Section 40Section 40A(3)Section 40a

condoning the delay. and the remaining ground nos.4 to 16 for discussion can be summarized as follows: 1) Ground 4: Disallowance of Rs.24,94,00,000 under section 40A(3) of the Act. 2) Grounds 5 to 7: Disallowance of Rs.21,08,45,001 under section 40(a)(ia) of the Act. 3) Grounds 8 and 9: Payments made

APMDC SCCL SULIYARI COAL COMPANY LIMITED,HYDERABAD vs. DCIT, CIRCLE 1(1), HYDERABAD

In the result, the appeals filed by the assessee company are disposed of as under:

ITA 2271/HYD/2025[2015-16]Status: DisposedITAT Hyderabad30 Jan 2026AY 2015-16

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1501, 1514, 1515 & 1529/Hyd/2025 (िनधा"रण वष"/Ay: 2016-17, 2017-18, 2018-19 & 2019-20) Apmdc Sccl Suliyari Coal Vs. Dcit, Company Limited, Circle-1(1), Hyderabad. Hyderabad. Pan: Aalca9755A (Appellant) (Respondent)

For Appellant: Shri R. Mohan KumarFor Respondent: Shri Sankar Pandi P, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 194ASection 270ASection 271(1)(c)

section 271(1)(c) of the Act, dated 27/09/2022 for AY 2015-16. The assessee company has assailed the impugned order on the following grounds of appeal: “1. In the facts and circumstances of the case, the respected CIT(A) ought to have condoned the delay

APMDC SCCL SULIYARI COAL COMPANY LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, the appeals filed by the assessee company are disposed of as under:

ITA 1529/HYD/2025[2019-20]Status: DisposedITAT Hyderabad30 Jan 2026AY 2019-20

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1501, 1514, 1515 & 1529/Hyd/2025 (िनधा"रण वष"/Ay: 2016-17, 2017-18, 2018-19 & 2019-20) Apmdc Sccl Suliyari Coal Vs. Dcit, Company Limited, Circle-1(1), Hyderabad. Hyderabad. Pan: Aalca9755A (Appellant) (Respondent)

For Appellant: Shri R. Mohan KumarFor Respondent: Shri Sankar Pandi P, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 194ASection 270ASection 271(1)(c)

section 271(1)(c) of the Act, dated 27/09/2022 for AY 2015-16. The assessee company has assailed the impugned order on the following grounds of appeal: “1. In the facts and circumstances of the case, the respected CIT(A) ought to have condoned the delay

APMDC SCCL SULIYARI COAL COMPANY LIMITED,HYDERABAD vs. DCIT., CIRLE-1(1), HYDERABAD

In the result, the appeals filed by the assessee company are disposed of as under:

ITA 1514/HYD/2025[2017-18]Status: DisposedITAT Hyderabad30 Jan 2026AY 2017-18

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1501, 1514, 1515 & 1529/Hyd/2025 (िनधा"रण वष"/Ay: 2016-17, 2017-18, 2018-19 & 2019-20) Apmdc Sccl Suliyari Coal Vs. Dcit, Company Limited, Circle-1(1), Hyderabad. Hyderabad. Pan: Aalca9755A (Appellant) (Respondent)

For Appellant: Shri R. Mohan KumarFor Respondent: Shri Sankar Pandi P, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 194ASection 270ASection 271(1)(c)

section 271(1)(c) of the Act, dated 27/09/2022 for AY 2015-16. The assessee company has assailed the impugned order on the following grounds of appeal: “1. In the facts and circumstances of the case, the respected CIT(A) ought to have condoned the delay

APMDC SCCL SULIYARI COAL COMPANY LIMITED,HYDERABAD vs. DCIT., CIRCLE- 1(1), HYDERABAD

In the result, the appeals filed by the assessee company are disposed of as under:

ITA 1515/HYD/2025[2018-19]Status: DisposedITAT Hyderabad30 Jan 2026AY 2018-19

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1501, 1514, 1515 & 1529/Hyd/2025 (िनधा"रण वष"/Ay: 2016-17, 2017-18, 2018-19 & 2019-20) Apmdc Sccl Suliyari Coal Vs. Dcit, Company Limited, Circle-1(1), Hyderabad. Hyderabad. Pan: Aalca9755A (Appellant) (Respondent)

For Appellant: Shri R. Mohan KumarFor Respondent: Shri Sankar Pandi P, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 194ASection 270ASection 271(1)(c)

section 271(1)(c) of the Act, dated 27/09/2022 for AY 2015-16. The assessee company has assailed the impugned order on the following grounds of appeal: “1. In the facts and circumstances of the case, the respected CIT(A) ought to have condoned the delay

APMDC SCCL SULIYARI COAL COMPANY LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, the appeals filed by the assessee company are disposed of as under:

ITA 1501/HYD/2025[2016-17]Status: DisposedITAT Hyderabad30 Jan 2026AY 2016-17

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1501, 1514, 1515 & 1529/Hyd/2025 (िनधा"रण वष"/Ay: 2016-17, 2017-18, 2018-19 & 2019-20) Apmdc Sccl Suliyari Coal Vs. Dcit, Company Limited, Circle-1(1), Hyderabad. Hyderabad. Pan: Aalca9755A (Appellant) (Respondent)

For Appellant: Shri R. Mohan KumarFor Respondent: Shri Sankar Pandi P, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 194ASection 270ASection 271(1)(c)

section 271(1)(c) of the Act, dated 27/09/2022 for AY 2015-16. The assessee company has assailed the impugned order on the following grounds of appeal: “1. In the facts and circumstances of the case, the respected CIT(A) ought to have condoned the delay

APMDC SCCL SULIYARI COAL COMPANY LIMITED,HYDERABAD vs. DCIT, CIRCLE 1(1), HYDERBAD

In the result, the appeals filed by the assessee company are disposed of as under:

ITA 2272/HYD/2025[2016-17]Status: DisposedITAT Hyderabad30 Jan 2026AY 2016-17

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1501, 1514, 1515 & 1529/Hyd/2025 (िनधा"रण वष"/Ay: 2016-17, 2017-18, 2018-19 & 2019-20) Apmdc Sccl Suliyari Coal Vs. Dcit, Company Limited, Circle-1(1), Hyderabad. Hyderabad. Pan: Aalca9755A (Appellant) (Respondent)

For Appellant: Shri R. Mohan KumarFor Respondent: Shri Sankar Pandi P, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 194ASection 270ASection 271(1)(c)

section 271(1)(c) of the Act, dated 27/09/2022 for AY 2015-16. The assessee company has assailed the impugned order on the following grounds of appeal: “1. In the facts and circumstances of the case, the respected CIT(A) ought to have condoned the delay

PRASANTH PUTTAMAREDDY,NELLORE vs. INCOME TAX OFFICER, WARD-1, NELLORE

In the result, the appeal filed by the assessee in ITA

ITA 1555/HYD/2025[2016-17]Status: DisposedITAT Hyderabad03 Dec 2025AY 2016-17

Bench: the Ld. CIT(A).

Section 133(6)Section 147Section 148Section 194ISection 271(1)(c)Section 69

condoned the delay and decided the issues on merits. It was further submitted that, the penalty under Section 271(1)(c

PRASANTH PUTTAMAREDDY,NELLORE vs. INCOME TAX OFFICER, WARD-1, NELLORE

In the result, the appeal filed by the assessee in ITA

ITA 1554/HYD/2025[2016-17]Status: DisposedITAT Hyderabad03 Dec 2025AY 2016-17

Bench: the Ld. CIT(A).

Section 133(6)Section 147Section 148Section 194ISection 271(1)(c)Section 69

condoned the delay and decided the issues on merits. It was further submitted that, the penalty under Section 271(1)(c

NAVAYUGA ENGINEERING COMPANY LIMITED,HYDERABAD vs. ACIT CIRCLE-1(1), HYDERABAD

In the result, all the three appeals filed by the assessee are dismissed

ITA 240/HYD/2022[2014-15]Status: DisposedITAT Hyderabad11 Dec 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Pawan Kumar Chakrapany, C.AFor Respondent: Smt.Mamata Choudhary
Section 115JSection 132Section 143(2)Section 143(3)Section 153ASection 80I

condone delay in case he is satisfied that the assessee was prevented by sufficient cause from making the application within the prescribed period. Sub-s. (4) provides that the CIT has no power to revise any order under s. 264(1) : (i) while an appeal against the order is pending before the AAC, and (ii) when the order has been

NAVAYUGA ENGINEERING COMPANY LIMITED,HYDERABAD vs. ACIT CIRCLE-1(1), HYDERABAD

In the result, all the three appeals filed by the assessee are dismissed

ITA 241/HYD/2022[2015-16]Status: DisposedITAT Hyderabad11 Dec 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Pawan Kumar Chakrapany, C.AFor Respondent: Smt.Mamata Choudhary
Section 115JSection 132Section 143(2)Section 143(3)Section 153ASection 80I

condone delay in case he is satisfied that the assessee was prevented by sufficient cause from making the application within the prescribed period. Sub-s. (4) provides that the CIT has no power to revise any order under s. 264(1) : (i) while an appeal against the order is pending before the AAC, and (ii) when the order has been

NAVAYUGA ENGINEERING COMPANY LIMITED,HYDERABAD vs. ACIT CIRCLE-1(1), HYDERABAD

In the result, all the three appeals filed by the assessee are dismissed

ITA 239/HYD/2022[2013-14]Status: DisposedITAT Hyderabad11 Dec 2023AY 2013-14

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Pawan Kumar Chakrapany, C.AFor Respondent: Smt.Mamata Choudhary
Section 115JSection 132Section 143(2)Section 143(3)Section 153ASection 80I

condone delay in case he is satisfied that the assessee was prevented by sufficient cause from making the application within the prescribed period. Sub-s. (4) provides that the CIT has no power to revise any order under s. 264(1) : (i) while an appeal against the order is pending before the AAC, and (ii) when the order has been

SYNFOSYS BUSINESS SOLUTIONS LTD., HYDERABAD,HYDERABAD vs. ITO, WARD-3(4), HYDERABAD, HYDERABAD

In the result, appeal of the assessee is allowed

ITA 1584/HYD/2016[2011-12]Status: DisposedITAT Hyderabad17 Sept 2020AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony(Through Virtual Hearing) Assessment Year:2011-12 Synfosys Business Vs. Income Tax Officer, Solutions Ltd., Ward-3(4), Hyderabad. Hyderabad. Pan: Aafcs 3590 K (Appellant) (Respondent) Assessee By: Shri A. Srinivas Revenue By: Shri Rajat Mitra, Dr Date Of Hearing: 14/09/2020 Date Of Pronouncement: 17/09/2020 Order Per A. Mohan Alankamony, Am.:

For Appellant: Shri A. SrinivasFor Respondent: Shri Rajat Mitra, DR
Section 1Section 10ASection 143(3)Section 263Section 271(1)(c)

271(1)(c) is bad in law and liable to be quashed as the Assessing Officer omitted to explicitly mention whether the penalty proceedings are being initiated or furnished of inaccurate particulars or that for concealment of income. (2) Any other grounds which the appellant may urge either before or at the time of hearing.” 3. At the outset

DCIT, CENTRAL CIRLCE-2(1), HYD, HYDERABAD vs. HES INFRA PVT LTD., HYD, HYDERABAD

In the result, the appeal of Revenue in ITA

ITA 605/HYD/2016[2011-12]Status: DisposedITAT Hyderabad31 Jul 2023AY 2011-12

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

For Appellant: Ms. T. Vijaya Lakshmi, CIT-DRFor Respondent: Shri A. Srinivas, C.A
Section 143(3)Section 153ASection 80I

271(1)(c) of the Act. Further, he submitted that the recent decision of the Tribunal in the case of NEC NCC Maytas JV (supra) had elaborately discussed various aspects of the matter and thereafter, had decided the issue in favour of the Revenue. 14. We have heard the rival submissions and perused the material available on record

DCIT, CENTRAL CIRLCE-2(1), HYD, HYDERABAD vs. HES INFRA PVT LTD., HYD, HYDERABAD

In the result, the appeal of Revenue in ITA

ITA 604/HYD/2016[2010-11]Status: DisposedITAT Hyderabad31 Jul 2023AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

For Appellant: Ms. T. Vijaya Lakshmi, CIT-DRFor Respondent: Shri A. Srinivas, C.A
Section 143(3)Section 153ASection 80I

271(1)(c) of the Act. Further, he submitted that the recent decision of the Tribunal in the case of NEC NCC Maytas JV (supra) had elaborately discussed various aspects of the matter and thereafter, had decided the issue in favour of the Revenue. 14. We have heard the rival submissions and perused the material available on record