2000 (11) TMI 56

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....uestions referred in both references are identical, this common order will dispose of both of them. At the instance of the assessees, the following questions have been referred for the opinion of this court by the Income-tax Appellate Tribunal, Delhi Bench-D (in short "the Tribunal"), under section 256(1) of the Income-tax Act, 1961 (in short "the Act") : "1. Whether, on the facts and in the....

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....sition is not necessary. The statement of assets and liabilities as on March 31, 1962, March 31, 1970, and March 31, 1971, were directed to be submitted by the assessee, by the Income-tax Officer (in short "the ITO"), pursuant to notice under section 142(1)(ii) of the Act dated August 9, 1971. Notice was duly served upon the assessee on August 12, 1971. As the notice was not complied with for a....

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....(2) were applicable to the facts of the case. Reliance was placed on a decision of the Andhra Pradesh High Court in Smt, Kantamani Venkatasatyavathi v. ITO [1968] 67 ITR 271. Again, the assessee was requested to furnish the statements called for as they were not submitted. The Income-tax Officer was of the view that the assessee had failed to furnish statements deliberately and intentionally witho....

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....pellate Assistant Commissioner did not accept the plea and held that the Income-tax Officer's conclusions were in order. The matter was carried in further appeal before the Tribunal. The stand taken before the Income-tax Officer and the Appellate Assistant Commissioner were reiterated. The Tribunal upheld the conclusions of the Income-tax Officer and the Appellate Assistant Commissioner and held t....