1991 (1) TMI 95

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....J.-Under section 256(2) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal has stated the following question : "Whether, on the facts and circumstances of the case, the Incometax Appellate Tribunal, Delhi Bench, was justified, for the reasons mentioned in paragraph 5 of its order, in cancelling the penalty under section 271 (1) (c) of the Income-tax Act, when the addition of Rs. 96,....

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....s to a very large extent. On second appeal, the Tribunal gave further relief. The income of the assessee as finally determined stood at Rs. 2,22,017. The difference thus between the income returned and the income assessed was Rs. 1,36,561. This sum represented various expenses claimed by the assessee but disallowed by the Income-tax Officer. Proceedings for penalty under section 271 (1) (c) of the....