1979 (10) TMI 67

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....ered by C. S. P. SINGH J.--The Income-tax Appellate Tribunal, Delhi Bench " B ", has referred the following question for our opinion: " Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in cancelling the penalty ? " The assessment year involved is 1965-66. In the quantum appeal the Tribunal had upheld an addition of Rs. 50,000 on account of a p....

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.... which the Tribunal has set aside the penalty does not appear to be sound in view of the decision of this court in the case of Rukmani Bahu v. Addl. CIT [1979] 116 ITR 468, for, in that case, it has been held that after the introduction of the Explanation to s. 271(1)(c), in case where the returned income is less than eighty per cent. of the assessed income, the onus lies upon the assessee to prov....