TaxTMI 
TaxTMI 
2002 (8) TMI 65
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....nd these may first be noticed. The appellant is a Halwai (sweets seller) and he was not maintaining any accounts. He filed his income-tax return on estimate basis and declared his income at Rs. 52,000. The income was, however, assessed by the Assessing Officer at Rs. 2,07,500 by estimating the appellant's sales and gross profit. The appeal filed against the order of assessment was dismissed by the Commissioner of Income-tax (Appeals) with the following observations: "In the light of the above discussion, I hold that the estimate of income by the learned Income-tax Officer is fair and no interference is called for." On further appeal, the Tribunal reduced the addition to Rs. 1,50,000. Hence, the income was finally assessed at Rs. 1,50,00....
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....nt up in appeal before the Income-tax Appellate Tribunal which was allowed by order dated May 30, 2001. It is against this order that the present appeal has been filed which raises the aforesaid question of law. In order to attract clause (c) of section 271(1) of the Act, it is necessary that there must be concealment by the assessee of the particulars of his income or if he furnishes inaccurate particulars of such income. What is to be seen is whether the assessee in the present case had concealed his income as held by the Assessing Officer and the Tribunal. He had not maintained any accounts and he filed his return of income on estimate basis. The Assessing Officer did not agree with the estimate of the assessee and brought his income t....