1983 (9) TMI 5

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....tion 256(2) of the Income-tax Act, 1961, by the Income-tax Appellate Tribunal, Bangalore Bench: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the levy of penalty was justified ?" To state briefly, the facts are these. The assessee is a PWD Contractor at Gundlepet. For the assessment years in question, he filed returns of income, but later it....

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....icer did not agree with the plea put forward by the assessee and he levied the penalty. The Appellate Assistant Commissioner confirmed the levy of penalty and so too the Tribunal. In these references, Mr. Sarangan, learned counsel for the assessee, submitted that there was no intention at all on the part of the assessee to conceal any part of his income, since he himself voluntarily disclosed the....