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2004 (10) TMI 41 - HC - Income TaxBy impugned order Tribunal were hold that the questions proposed by the Revenue do not involve any question of law - Accordingly, the reference application made by the Revenue u/s 256(1) before the Tribunal was dismissed - question before the taxing authority and which travelled up to the Tribunal was in regard to addition/deletion of some amount - Tribunal while deciding the second appeal, held that the explanation offered by the assessee is genuine, bona fide and consequently, the deletions deserve to be upheld - Tribunal had the jurisdiction to accept the explanation offered by the assessee and it was rightly accepted. This court cannot go into the question, i.e., as to whether the explanation offered by an assessee constitutes sufficient cause or not in proceedings u/s 256(1)? - We, therefore, agree with the observations made by the learned members of the Tribunal while dismissing the application made by the Revenue, under section 256(1)
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