TMI Blog1979 (12) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 holding that since the default is attributable to the return of income filed in the course of the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8, 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 assessee guilty of concealing the income and imposed upon him a penalty of Rs. 5,000 under the provisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 the Act. The IAC in his order has specifically stated that the penalty was imposable with reference to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 that the default was attributable to the return of income filed in the course of the original assessment p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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