TMI Blog2008 (1) TMI 897X X X X Extracts X X X X X X X X Extracts X X X X ..... trade exhibition in U.K. The assessee was not able to produce any evidence in support of the expenses incurred and, therefore, the Assessing Officer disallowed the expenditure. While concluding, the Assessing Officer noted that penalty proceedings under section 271(1)(c) of the Act have been initiated separately for furnishing inaccurate particulars of income. 4. In appeal, the view of the Assessing Officer was upheld by the Commissioner of Income-tax (Appeals) but the Tribunal reversed both the authorities below. 5. In the view of the Tribunal, the assessee had not been able to substantiate the expenditure incurred but relying upon a decision of this Court in CIT v. Ram Commercial Enterprises Ltd. [2000] 246 ITR 5681 , it was held th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Larger Bench. 11. We have considered the question that has been referred to the Larger Bench and proceed on the basis that that question is answered in the affirmative and in favour of the revenue. All that this would mean is that we need to look at the assessment order to find out whether it is possible to discern therefrom that the satisfaction of the Assessing Authority for imposition of penalty is duly recorded. 12. In view of the above, we have perused the assessment order with the assistance of learned counsel for the revenue and find that it is not possible to discern therefrom the satisfaction of the Assessing Officer for initiating penalty proceedings for furnishing inaccurate particulars of income. There is no doubt th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before us that the tax effect in this case is ₹ 51,785. This is well below the limit prescribed by the Central Board of Direct Taxes for filing an appeal under section 260A of the Act. The revenue has been filing appeals on petty amounts without any consideration of the fact that the Registry of this Court is over burdened with having to deal with such large number of institutions by the Income-tax Department. Appeals of this kind pertaining to petty matters result in relegating to the background other and more important cases of the Income-tax Department where the tax effect is in six to seven figures. Heavy tax effect appeals cannot be taken up by us since our time is spent on petty matters being filed by the revenue. 16. Under t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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