1989 (8) TMI 59

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..... -As directed by this court, the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee was guilty of concealing the particulars of his income and was liable to pay penalty under the provisions of section 271 (1) (....

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....Commissioner held that the assessee was guilty of concealment of income and imposed upon him penalty of Rs. 9,650. On appeal before the Tribunal, the Tribunal held that the assessee was guilty of concealment and in this view of the matter, the Tribunal dismissed the appeal. Aggrieved by the order passed by the Tribunal, the assessee sought reference but as the application submitted by the assessee....

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.... to deduction of expenses claimed by him. But from the mere fact that a claim for certain expenditure is rejected, it cannot be held that the claim for expenditure made by the assessee was false or inaccurate to his knowledge or was as a result of gross negligence. On the facts and in the circumstances of the case, therefore, the Tribunal was not justified in holding that the assessee was guilty o....