1991 (1) TMI 47

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....EDDY C. J. -Under section 256 (2) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal, Allahabad Bench, has stated the following questions : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal's decision is not vitiated in law and whether there was material before the Tribunal for holding that the burden of proving absence of fraud or gross or wilful neglect....

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....ead with the Explanation then in force. Since the penalty imposable exceeded Rs. 1,000, the matter was sent to the Inspecting Assistant Commissioner. The Inspecting Assistant Commissioner imposed a penalty of Rs. 9,000. He gave three grounds for imposing the said penalty. On appeal, the Tribunal dealt with each of the three grounds given by the Inspecting Assistant Commissioner and negatived the s....