1996 (11) TMI 10

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.....---The question of law, reference of which has been sought by the Revenue under section 256(2) of the Income-tax Act, 1961, in these petitions is : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in upholding the order of the Commissioner of Income-tax (Appeals) vide which penalty imposed under section 271(1)(c) by the Income-tax Officer was....

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....lied to the Commissioner of Income-tax, Patiala, under section 273A for spread over of the surrendered amount of Rs. 2 lakhs for the assessment years 1973-74 to 1981-82. Thereafter, a notice under section 148 was issued by the Income-tax Officer. Penalty proceedings were also initiated for the assessments years 1978-79, 1979-80 and 1980-81, Finally, (sic) to Rs. 29,470, Rs. 27,230 and Rs. 28,110, ....

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....nstead of surrender of excess stock. All this goes to show that the assessee has not strictly adhered to voluntary disclosure already made and introduced cash in its account books out of its concealed income. Keeping in view the contradictory entries made, i.e., instead of disclosure of stock, cash was introduced, the disclosure made by the assessee-firm cannot be said as true". However, the Co....

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....y the Revenue is a pure question of law and, therefore, a direction may be issued to the Tribunal to make reference of the same to the High Court. Shri G. S. Sandhawalia relied on a decision of the Division Bench in CIT v. Shri Parshad [1984] 146 ITR 397 and argued that similar question has already been decided by the High Court and, therefore, the same need not be referred to this court once agai....