2012 (11) TMI 858

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..... the order dated 29.04.2009 passed by the Income Tax Appellate Tribunal, Lucknow Bench, Lucknow. The Commissioner of Income Tax (Appeals), Kanpur has proposed the following two questions said to be substantial questions of law arising out of the order of the Tribunal, which requires determination by this Court. "1. Whether the conscious and deliberate declaration of income under a wrong head did n .....

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..... Business'. In proceedings for regular assessment, a notice was issued as to why such amount be not treated as income from house property and the explanation furnished by the assessee was disbelieved and the Assessing Officer included the said amount under the head 'Income From House Property'. Proceedings for penalty under section 270(1)(c) of the Act was also initiated and the Income Tax Offic .....

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..... come which clearly attracted the provisions of section 271(1)(c) of the Act. He, thus submitted that the Commissioner of Income Tax (Appeals) as also the Income Tax Appellate Tribunal was not justified in deleting the penalty. We have given our thoughtful consideration to the various pleas raised by the learned counsel for the Revenue and we find that the Commissioner of Income Tax (Appeals) as a .....

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