1990 (11) TMI 130

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....REDDY C. J.-Under section 256(2) of the Income-tax Act, 1961, the Tribunal has stated the following two questions : " ( 1 ) Whether, on the facts and in the circumstances of the case, the Tribunal had any material to arrive at the conclusion that the assessee was prevented by reasonable cause within the terms of section 271(1)(a) of the Income-tax Act, 1961 ? (2) Whether, on the facts and in....

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....om the order of the Commissioner, of Income-tax dated August 29, 1973. The order states that the assessee offered to accept the income of Rs. 90,000 spread over four years equally, i.e., over the years 1973-74, 1972-73, 1971-72 and 1970-71. Evidently, in pursuance of this settlement, he filed returns a week later. The Tribunal was of the opinion that the assessee was under a bona fide belief that ....