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2004 (5) TMI 48 - HC - Income TaxQuestion of law/fact – Tribunal rejecting the prayer for making a reference to HC - imposition of penalty u/s 271(1)(c) - We concur with the observation of the Tribunal and find that the issue really does not involve any question of law - The imposition of penalty requires some material to be used against the assessee which may be held to be a case of concealment. No such factual material could be filed or produced or taken note of by the Assessing Officer and hence, the CIT (Appeals) and the Tribunal quashed the imposition of penalty. This court cannot go into the question of fact recorded by the two appellate authorities and hence such finding being a finding of fact, the same is binding on this court. We, thus, find that no question of law as such arises in the case.
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