1983 (7) TMI 28

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....OHANI J.-This is an application under s. 256(2) of the I.T. Act, 1961 (hereinafter referred to as " the Act ). The material facts giving rise to this reference briefly are as follows For the assessment years 1974-75 and 1975-76, the assessee filed returns but did not disclose his income from contract receipts. After framing assessments, the ITO received information regarding the amount of in....

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....ts opinion : " (1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that penalty of Rs. 12,804 levied under s. 271(1)(c) of the I.T. Act, 1961, for I.T. Year 1974-75 was justified in view of the evidence on record that the assessee had disclosed the particulars of income before detection by the ITO and which had been Already subjected to tax....

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....he Tribunal was correct in law in holding that the default of concealment of income from contract receipts had been committed at the time of the original return filed or at the time of the revised (reassessment) return filed in pursuance of notice under s. 148 ?" The Tribunal, by its order dated December 2, 198l referred questions Nos. 3 and 4 but rejected the application of the assessee for re....