2004 (11) TMI 554

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....x Act, 1958 at the instance of the Revenue in reference case No. 1-1/S/70/94, which arises out of the order passed by the Tribunal on May 20, 1994 in appeal No. 104-3/87 to answer following question of law said to arise out of the appeal referred supra. Whether under the facts and circumstances of the case the Tribunal was justified in holding that the assessee has not filed the return with gui....

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.... Tribunal recorded a categorical finding that the assessee of his own having filed a return and disclosed about his true turnover, which was also accepted by the assessing officer for determining his tax liability. There was no occasion for invoking the penalty provision against the assessee, it was also found as a fact that there was no mens rea noticed on the part of the assessee for the purpose....