1976 (11) TMI 16

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....e at the instance of the Commissioner under section 66(2) of the Indian Income-tax Act, 1922. The following question has been referred : " Whether, on the facts and in the Circumstances of the case, the Tribunal was justified in cancelling the penalty of Rs. 20,000 imposed under section 28(1)(c) ? " In our opinion, the question as framed seems to suggest that sitting as a court of appeal we ....

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....uch matters is one which is based on irrelevant considerations or if the Tribunal has taken a view which the High Court regards as an impossible one on the facts before it, then the decision may be regarded as perverse or so unreasonable as would require quashing even in the limited jurisdiction. The short question then which will arise for determination is whether the decision of the Tribunal in ....

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.... had failed to prove that the assessee was guilty of the offence charged and that the assessee was required to be given the benefit of the doubt. On the facts, which need not be set out, another view is possible perhaps that view of the matter may be considered to be the better view inasmuch as two of the disallowed payments were purportedly made by bearer cheques and encashed by the assessee's....