9911796707
TMI Blog1979 (11) TMI 50X X X X Extracts X X X X X X X X Extracts X X X X ..... rsuant to the directions of this court in M.C.C. No. 367 of 1968, the following questions of law have been referred to this court by the Income-tax Appellate Tribunal, Indore Bench, Indore : " (i) Whether there is any material to support the finding that the applicant had committed a default in respect of some items of receipts and whether the penalty u/s. 271(1)(c) was attracted ? (ii) Whether, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to Rs. 1,38,374. On further appeal, the Tribunal reduced it to Rs. 42,000. The ITO had also initiated penalty proceedings under s. 271(1)(c) of the I.T. Act, 1961, hereinafter called " the Act", which were referred to the IAC for disposal under s. 274(2) of the Act. The IAC imposed a penalty of Rs. 16,060. On appeal, the Tribunal reduced the penalty to the minimum leviable under s. 271(1)(c) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rch, 1959. The Tribunal, however, has not referred to any material, nor any such material was pointed out to us on behalf of the department by the learned counsel, to indicate that the said overwriting was done by the assessee or under his authority. In these circumstances, it must be held that there was no material before the Tribunal for coming to the conclusion that the assessee had deliberatel ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
