2011 (6) TMI 810

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..... 730/imposed by the Assessing officer and confirmed by CIT(Appeals). Question of law raised for our consideration is as under : Whether the Appellate Tribunal is right in law and facts in reversing the order passed by CIT(A) and thereby deleting the penalty of ₹ 6,64,730/made by the Assessing Officer levied u/s.271(1)(c)? During the assessment year in question, the assessee had claime .....

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..... the assessee was false. Tribunal relied on decision of Division Bench of this Court in case of National Textiles v. Commissioner of Income Tax reported in 249 ITR 125, wherein Bench observed that if the assessee gives an explanation which is unproved but not disproved, it would not lead to inference that assessee's case is false. We are also in broad agreement with the same. Relying on the .....

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