2008 (3) TMI 621

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.... The only issue is regarding penalty levied under section 271(1)(c). Learned counsel for the assessee submitted that all material facts relevant for the assessment in this case were filed before the Assessing Officer and therefore, no case of penalty under section 271(1)(c) of the Act is made out by the Department. The learned Departmental representative has opposed the submission of learned couns....

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....ilver articles and electronic items amounting to Rs. 21,64,800 as additional income for the year under consideration and stated that the above investment has been made by him from the income earned in the current accounting year from gambling. Regarding payment of tax due on this additional income, the assessee requested the concerned Commissioner of Income-tax to auction the ornaments seized from....

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.... income-tax proceedings and such request letter cannot be treated as valid request unless it is accompanied by an authorization specifically permitting the chartered accountant to take any action with regard to the assets of the appellant. In these facts of the case, the Commissioner of Income-tax (Appeals) has confirmed the penalty by observing that such an invalid request cannot be construed as ....