TaxTMI 
TaxTMI 
2005 (2) TMI 45
X X X X Extracts X X X X
X X X X Extracts X X X X
....d and assessed to be the income of the assessee. The explanation was submitted at the time of assessment before the Assessing Officer, but it was not accepted. By order dated September 24, 1987, the Assessing Officer held that a sum of Rs. 16,300 was unexplained and added it to the income of the assessee. It was challenged by the assessee before the Commissioner of Income-tax (Appeals) (hereinafter referred to as "the CIT (Appeals)" for short) in I.T.A. No. 320/RAN of 1987-88. The Commissioner of Income-tax (Appeals) by his judgment dated March 8, 1988, accepted the explanation submitted by the assessee and deleted the addition. The Revenue, thereafter, moved before the Income-tax Appellate Tribunal which on hearing the parties vide order d....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t dated March 30, 1988, accepted the explanation submitted by the assessee and deleted the additon. The Revenue thereafter moved before the Income-tax Appellate Tribunal which on hearing the parties vide order dated April 11, 1991, set aside the order passed by the Deputy Commissioner of Income-tax (Appeals) and restored the original order of addition of Rs. 40,532 in income as was ordered by the Assessing Officer. The assessee has already preferred an appeal, Income-tax Appeal No. 518 (PAT) of 1988 against the order passed by the Income-tax Appellate Tribunal, Patna. The Revenue thereafter imposed penalty of Rs. 18,000 on the assessee under section 271(1)(c) of the Income-tax Act, 1961 (hereinafter to be referred to as "the Act" for short....
X X X X Extracts X X X X
X X X X Extracts X X X X
....No. 279/126/98-ITJ Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes. New Delhi, dated the 27th March, 2000. To All Chief Commissioners of Income-tax/ Directors General of Income-tax. Sir, Subject: Revising monetary limits for filing Departmental appeals/ references before Income-tax Appellate Tribunal, High Courts and Supreme Court-Measures for reducing litigation-Regarding. Reference is invited to the Board's Instruction No. 1903, dated 28th October, 1992, and Instruction No. 1777, dated 4th November, 1987, wherein monetary limits of Rs. 25,000 for Departmental appeals (in income-tax matters) before the Appellate Tribunal, Rs. 50,000 for filing reference to the High Court and Rs. 1,....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ommissioner decides to contest an adverse judgment by filing special leave petition before the Supreme Court, they should send the proposal to the Board for further processing. 5. These instructions will apply to litigation under other direct taxes also, e.g., wealth-tax, gift-tax, estate duty, etc. 6. These monetary limits will not apply to writ matters. 7. This instruction will come into effect from April 1, 2000. (Sd.) Anuradha Goyal, Deputy Secretary to the Government of India." Having noticed the instruction aforesaid, the Bombay High Court held that the Revenue should not have preferred any such appeal covered by the instruction and dismissed the appeal in limine. Counsel for the Revenue submitted that the instruction is not ma....
X X X X Extracts X X X X
X X X X Extracts X X X X
....pt does neither amount to concealment nor deliberate furnishing of inaccurate particulars of income unless and until there is some evidence to show or some circumstances found from which it can be gathered that the omission was attributable to an intention or desire on the part of the assessee to hide or conceal the income so as to avoid the imposition of tax thereon. In order that a penalty under section 271(1)(iii) may be imposed, it has to be proved that the assessee has consciously made the concealment or furnished inaccurate particulars of his income." In the present case, the assessee explained the cash amount which was found in his possession, though it was not accepted by the assessing authority, but the first appellate court accep....