TMI Blog2000 (9) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... le at Rs.15,167 on the income of Rs.1,21,530. However, the assessment was completed on the income of Rs.14,64,750 on which the assessed tax came to Rs.3,37,535. In view these facts, the Asses sing Officer imposed penalty under section 273(2)(a) of the Income-tax Act, 1961 (for short "the Act"), at Rs.20,000. Being aggrieved by the order of the Assessing Officer, the assessee preferred an appeal before the Commissioner of Income-tax (Appeals), who upheld the order of the Assessing Officer vide his order (annexure 2), dated June 2, 1992. Thereafter, the assessee preferred a second appeal before the Income-tax Appellate Tribunal, and the Income-tax Appellate Tribunal vide its order (annexure 3) dated September 29, 1998, allowed the appeal f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. According to the Department, the books of account were seized on January 9, 1986, whereas the assessee had already filed the statement of advance tax on September 9, 1985. Hence, the reasons, whatever for not filing return of income are not applicable to the default under section 273A of the Act. He has, therefore, submitted that this reference application under section 256(2) of the Act deserves to be allowed and the Tribunal may be directed to refer the above question of law for the opinion of this court. In this case, the return-was due to be filed on July 31, 1986. It was filed on April 13, 1988. Thus, it was late by 20 months. Form No. 6, was filed on July 31, 1986, requesting for extension of time up to September 30, 1986. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Commissioner of Income-tax (Appeals). The Tribunal has further held that the Commissioner of Income-tax (Appeals) was reasonable and justified in allowing the appeal of the assessee and dismissed the appeal filed by the Revenue. The authorised representative appearing for the assessee before the Tribunal submitted that since all the books of account were lying with the Department and the assessee was not allowed to inspect the books of account within the time for filing the estimates, the assessee cannot be held responsible for the default in terms of the provisions of section 273 of the Act. The assessee filed the estimates on the basis of the last assessed income, which was further revised on estimating the current income. The D ..... X X X X Extracts X X X X X X X X Extracts X X X X
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