1995 (12) TMI 27

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....tion under section 256(2) of the Income-tax Act, 1961, has prayed that the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, may be directed to refer the following questions of law for the opinion of this court : " (1) Whether, on the facts and in the circumstances of the case, the order of the Income-tax Appellate Tribunal is not perverse ? (2) Whether on the facts and in the circumstanc....

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....was affirmed in appeal and the addition made against the assessee was confirmed. After confirmation of this addition by the higher authority, the assessing authority initiated penalty proceedings under section 271(1)(c) and levied the penalty of Rs. 36,200. The penalty was confirmed in the appeal by the Commissioner of Income-tax (Appeals), Jodhpur. The Income-tax Appellate Tribunal, Jaipur Bench,....

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....fter appreciating the evidence on record and considering the facts and circumstances of the case, its order was not perverse so as to justify reference on proposed question No. 1. Since the findings recorded by the Tribunal regarding the cancellation of penalty were essentially findings of fact, proposed question No. 2, which arises out of such findings, is also not fit for reference. " We have....