2001 (10) TMI 59

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dated March 27, 1991, the Tribunal ("the ITAT, Indore"), was pleased to reject the application made by the Revenue under section 256(1) of the Act, holding, inter alia, that no question of law arises out of the Income-tax Appellate Tribunal order, and hence no reference could be made to the High Court. For the assessment year 1979-80, the respondent (assessee) filed a return showing loss to the extent of Rs.11,400. However, when the Assessing Officer (AO) made the assessment, he was of the view that the total income of the assessee is Rs.71,970 which included a sum of Rs.77,454 being the sum towards sales tax. In the opinion of the Assessing Officer deduction claimed by the assessee on the claim of sales tax which had resulted in loss am....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ourt on the questions of law so proposed by the Revenue in their application which read as under: "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in cancelling the penalty when there was deliberate concealment on the part of the assessee? (2) Whether, on the facts and in the circumstances of the case, the cancellation of penalty by the Income-tax Appellate Tribunal was on justifiable grounds? (3) Whether, on the facts and in the circumstances of the case, there was reasonable explanation of the assessee before the Income-tax Appellate Tribunal justifying cancellation of penalty under section 271(1)(c)?" As observed supra, the Tribunal by its order dated March 27, 1....