9911796707
TMI Blog2001 (7) TMI 69X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 256(2) of the Income-tax Act, 1961. The Revenue prays that the Income-tax Appellate Tribunal be directed to refer the following question of law for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in cancelling penalty levied under section 273 when the surrender made by the assessee during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the assessee had made the disclosure only after it had been cornered. The disclosure was not voluntary. Thus, the Tribunal has erred in reversing the order passed by the Commissioner. Is it so? It is the admitted position that an enquiry was held from January 25 to February 8, 1988. Did the Department find any evidence against the assessee? How was the assessee cornered? There is no evide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Supreme Court in CIT v. Managing Trustee, Jalakhabai Trust [1967] 66 ITR 619. There is no quarrel with the proposition. So far as the conclusion on the facts is concerned, the evidence has to be examined in each case. The issue as sought to be raised by the Revenue is, in our opinion, fully settled. However, the decision is based on the evidence on record. No question of law arises. Thus, no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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