2005 (11) TMI 48

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....cted against the order of the Income-tax Appellate Tribunal dated April 3, 2002 made in I.T.A. Nos. 2565 and 2566 (Mds)/1991, respectively. The Revenue is the appellant. The assessment year involved in the present appeals is 1989-90. The short facts of the case are that the assessee-company is a partnership firm and it filed returns for the assessment year 1989-90. The Assessing Officer whil....

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....ent before the Tribunal, which endorsed the views of the Commissioner of Income-tax (Appeals) and dismissed the appeal. It is against the said order dated April 3, 2002, of the Tribunal, the present appeals have been preferred raising the following substantial question of law: "Whether, in the facts and under the circumstances of the case, the Appellate Tribunal was right in holding that penalt....

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....unal are essentially factual giving rise to no question of law much less a substantial question of law." In the case on hand, the Tribunal after endorsing the findings of the Commissioner of Income-tax (Appeals) that the contravention alleged against the assessee did not result in any unaccounted transaction such as lending and repayment and that both the transactions were entered in the books ....