TMI Blog1971 (10) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... prove the nature and source of the deposits was sufficient to discharge the burden of the department that the assessee was liable to penalty under section 28(1)(c) - held that in the absence of cogent material evidence, apart from the falsity of the assessee's explanation, it cannot be inferred that the assessee has concealed the particulars of his income or has deliberately furnished inaccurate p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c) of the Income-tax Act, 1922 ? " The facts necessary for the disposal of these questions fall within a narrow compass. The assessment years involved are 1955-56 and 1956-57. The assessment for the year 1955-56 was completed on a total income of Rs. 14,047. During the proceedings for assessment for 1956-57 the Income-tax Officer found that the assessee had received certain cheques about which i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear 1955-56. Proceedings under section 28 were initiated and a show cause notice was issued to the assessee. The assessee took up the stand that the mere fact that it had agreed to the inclusion of certain amounts did not mean that it had concealed its income and that the offer had been made because it felt that it was unable to prove its case for want of proper evidence. Apart from this, it was a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment was upon the department, which had not been satisfactorily discharged no occasion arose for the imposition of any penalty. When the matter came up for hearing earlier, we directed a supplementary statement of the case to be submitted to this court, and the Tribunal in compliance of our order has sent the supplementary statement. From that statement it transpires that the Tribunal while dispos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax v. Anwar Ali, where it has been held that in the absence of cogent material evidence, apart from the falsity of the assessee's explanation, it cannot be inferred that the assessee has concealed the particulars of his income or has deliberately furnished inaccurate particulars. The question as framed as such must also be answered against the assessee. We, therefore, answer both the questions in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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