2011 (9) TMI 1039

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....ted for consideration of following substantial questions of law: " 1. Whether on facts and evidence on record the Tribunal is right in law in its interpretation of s. 271(l)(c) of the Act for reversing the order of CIT(A) and confirming the penalty for alleged concealment without any independent reasons? 2. Whether on facts and circumstances of the case read along with evidence o....

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....he CIT(A). CIT(A) reversed the order of penalty, upon which the Revenue approached the Tribunal. The Tribunal reversed the order of the CIT(A). Therefore, the present appeal has been filed. 5. With respect to penalty on the alleged consumption of quota of coal, we had in a separate appeal of the assessee deleted the penalty making following observations: "Having thus heard the learned ....

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....d the details appeared to have come to the conclusion that though, there was record showing consumption of coal by the assessee from GMDC, the bank record suggested otherwise. In totality of the facts and circumstances of the case, we are of the opinion that penalty on this head should be deleted." 6. With respect to second head of addition relating to penalty, counsel submitted that the CIT(A)....

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....had made full disclosure about the claim. The claim was also certified by the chartered accountant. Necessary declarations in the prescribed forms were made, may be in the case of the assessee, such claim on merits was not granted. However, this does not mean that the assessee had concealed any income. Further, we find that the issue ultimately at any rate is debatable since one High Court has alr....