TMI Blog1972 (1) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 had been borrowed by him on 7th April, 1964, and 10th of April, 1964, respectively, from one Mohan Dass. During the assessment proceedings, the assessee produced a copy of the accounts of Mohan Dass. Mohan Dass was also produced and also the pronotes. Mohan Dass went to the length of stating that he had advanced the amounts. However, the Income-tax Officer got suspicious because the copy of the accounts produced was undated. This led the Income-tax Officer to ask the assessee to give further evidence in regard to the genuineness of the deposits. The Income-tax Officer being not satisfied, he required the production of Mohan Dass who appeared before him on 28th July, 1966. Mohan Dass was asked to appear with his account books. But he did n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Tribunal met with no success. Simultaneously with the assessment, penalty proceedings were started by the Income-tax Officer and they were processed by the Inspecting Assistant Commissioner of Income-tax who came to the conclusion that the assessee had deliberately concealed his income and, therefore, on that basis imposed a penalty of Rs. 27,037. An appeal against this order to the Tribunal met with no success. The assessee has not challenged the assessment by way of a reference to this court. He has only claimed reference with regard to the matter of penalty and the Tribunal has referred the following question of law for our opinion : " Whether, on the facts and in the circumstances of the case, penalty under section 271(1)(c) re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount in question was the income of the assessee or not and whether it had been concealed or not. The so-called creditor was examined. Effort was made to obtain the books which, in the circumstances of the case, were deliberately withheld. The conduct of the so-called creditor has been that he is lending his name to different debtors as a creditor in order to enable them to escape liability to income-tax. In this situation, it is a far cry to say that there is no material on the record on the basis of which the Income-tax Officer and, as a matter of that, the Inspecting Assistant Commissioner and the Tribunal could not come to a finding that there was concealment of income. This being so, it must be held that the decision in Anwar Ali's c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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