1991 (4) TMI 183

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.... the Commissioner of Income-tax, Delhi-X,New Delhi passed under section 285A of the Income-tax Act. 1961. The appellant firm is engaged in the manufacturing and trading of mosaic plain and chequered tiles. Besides the assessee has also executed contracts of which the turnover has been disclosed at Rs. 19,41,923. The CIT initiated proceedings for imposition of fine under section 285A for assessee's....

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....d. The learned counsel further contended that the assessee was in business for the last 20 years and had executed contracts like those executed in the year in appeal. The revenue has never invoked section 285A in the assessee's case giving credence to the assessee's plea that section 285A was not attracted to assessee's case. 3. In the alternative, the learned counsel contended that the assesse....

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....ition that the fine imposable under section 285A is not mandatory but only discretionary and the power has got to be exercised by the Commissioner Judiciously and fairly keeping in view the facts and circumstances of each case. 4. The learned Departmental Representative Smt. Shebha Bhattacharya, supported the order of the Commissioner of Income-tax. It was contended by her that the assessee was....

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....act exceeded Rs. 50,000 the assessee was under obligation to furnish information in Form No. 52 as per provisions of section 285A. However, keeping in view the fact that the revenue did not point out the default committed by the assessee for several years it is not unbelievable that the assessee carried the wrong notion of law in respect of its obligation under section 285A. There being no materia....