1979 (12) TMI 6

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d by VIJAYVARGIYA J.- By this reference under s. 256(1) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, Indore (hereinafter referred to as " the Tribunal "), has referred the following question of law for the opinion of this court: " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....m under s. 148 of the Act. In response to the said notice, the assessee filed a return on September 18, 1969, declaring the same income of Rs. 8,200 as was originally returned by him. The ITO assessed the income at Rs. 21,807, which was eventually reduced by the Tribunal by Rs. 4,286. The ITO initiated proceedings under s. 271(1)(c) of the Act and referred the same to the IAC. The IAC found the as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r the assessment year in question. At the instance of the Commissioner, the Tribunal has referred the aforesaid question of law for the opinion of this court. It may be stated at the outset that the ITO initiated penalty proceedings for concealment of income in the second return filed by, the assessee on September 18, 1969, pursuant to a notice issued by the ITO to the assessee under s. 148 of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lowed by us in Addl. CIT v. Ratanchand Sewakram [1985] 151, ITR 112 (MP) .In the present case also, the penalty proceedings were initiated for concealment of income in the second return filed by the assessee which was after April 1, 1968. In the circumstances, in view of the aforesaid decisions, it has to be held that, in the circumstances of the case, the Tribunal was not justified in holding tha....