1981 (3) TMI 126

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing question of law, said to arise from the Tribunal's order dt. 16th April, 1980 in ITA No. 1840/JP/79, to the High Court for its opinion: " Whether on the facts and circumstances of the case, the assessee could be said to have deliberately concealed the particulars of his income and in the alternative whether the case was hit by the provisions of Expln. to s. 271(1)(c) of the IT Act, 1961?" ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....O that there was concealment, but he reduced the penalty to Rs. 15,000. On further appeal to the Tribunal by the assessee, it was held that Expln. to s. 271(1)(c) was applicable to the case and, therefore, it was for the assessee to show that there was no gross or fraud or wilful neglect on its part. The Tribunal ultimately held that there was no conscious concealment of income on the part of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....olding that it was not proved that there was fraud or gross or wilful neglect on the part of the assessee. His argument is that when Expln. to s. 271(1)(c) is applicable, it is presumed that there was concealment by fraud or gross or wilful neglect on the part of the assessee. Penalty can be cancelled in a case where Explanation is applicable only when it is found that the assessee successfully di....