1992 (8) TMI 19

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....e Income-tax Act, 1961, the Revenue seeks a direction to the Tribunal to refer the following common question of law for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in cancelling the penalty under section 271(1)(c) of the Income-tax Act, 1961 ?" We find from the order of the Tribunal that it was persuaded to delete t....

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....ese applications with the assessment years 1977-78 to 1980-81. We also find that the books of account had been produced by the assessee before the authorities and they had not also discovered any mistakes, but the totalling errors and excess totalling were brought to the notice of the authorities by the assessee and this was also followed by the filing of the revised returns. Under the aforesaid c....