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2004 (12) TMI 82 - PUNJAB AND HARYANA HIGH COURTTribunal confirming the cancellation of penalty orders passed under section 271(1)(c) - "Whether, on the facts and in the circumstances of the cases, the Income-tax Appellate Tribunal was legally right in confirming the cancellation of penalty orders passed under section 271(1)(c)?" - Finding recorded by the Tribunal that the assessee had not concealed the income or made misstatement about its income is based on a correct appreciation of evidence and no question of law arises from the order passed by it which requires consideration by this court. - High Court is not bound to answer a question merely because it is raised and referred and in an appropriate case, it may decline to answer a question of fact or even a question of law which is purely academic – Thus, we decline to answer the question referred by the Tribunal because it is not a question of law.
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