TaxTMI 
TaxTMI 
1985 (9) TMI 31
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....alth-tax Act, whereby the Revenue has prayed that the Income-tax Appellate Tribunal may be directed to refer tire following question to this court : "Whether, on tire facts arid in the circumstances of the, present case, the Tribunal was justified in cancelling the penalty of Rs. 4,668 levied under section 18(1)(a) of the Wealth tax Act, 1957 ?" The facts, briefly stated, are that in respect, of....
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....alty was affirmed in appeal by the Appellate Assistant Commissioner. The Tribunal, on further appeal by order dated August 23, 1980, cancelled the said penalty and allowed the appeal of the assessee. It may be mentioned that penalty was also imposed on the assessee for the assessment year 1970-71 and that penalty was also cancelled by the Tribunal by order dated August 8, 1980. Shri H. P. Gupta, t....
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....le and that as regards the deposits of Rs. 74,221, the assessee had submitted that when the Maharaja died, an account of his estate was filed by the assessee and in that return the deposit, of Rs. 74,221 belonging to the assessee was shown and that, this fact was not brought to tile knowledge of the assessee earlier. The Tribunal held that from the explanation of the assessee it appeared that she ....
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....led the penalty. The Revenue filed a petition before the Tribunal for reference to this court. The said application was rejected by the Tribunal by order dated April 8, 1981, on the view that no question of law arises out of the order dated August 23, 1980, passed by the Tribunal. In its order dated April 8, 1981, the Tribunal has mentioned that in respect of the assessment year 1970-71, referenc....