1981 (7) TMI 147

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.... the penalty imposed at Rs. 25,221 by the ITO, Bokaro, under s. 271(1)(c) of the IT Act, 1961, has been deleted. 2. Facts briefly stated are that the assessee filed the return of income for the assessment year under appeal on 18th Oct., 1976, income declared was at Rs.44,190. The assessment was framed under s. 143(3) of the Act at Rs. 49,850. The assessee, after the assessment was completed,....

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....(1)(c) of the Act. The reasoning of the ITO was that the assessee deliberately reduced his income by debiting the sales-tax twice and since the assessee was assessed in the status of individual, the incidence of tax was quite heavy and intentionally, the assessee reduced his income to avoid the tax. 4. In appeal by the assessee, the AAC of Income-tax, deleted the penalty. He agreed with the con....

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....n and these facts did show that the assessee has disclosed the income voluntarily and there was no question of any concealment much less imposition of penalty. He also held that the notice under s. 148 of the Act was issued on the basis of a petition made by the assessee. 5. This time the Revenue is aggrieved, hence we are seized of the matter. We have heard the ld. Rep. of the parties at lengt....

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....ed on the petition filed by the assessee. There is no material on the record to warrant the inference that prior to the making of the petition by the assessee, there has been any enquiry against the assessee or else any notice to the assessee and accordingly, on the facts and in the circumstances of the assessee's case with which we are presently seized of, the only and irresistible conclusion tha....