DUTTA D C Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) UNDER s. 256(1) of the IT Act, 1961, the Tribunal has stated the case and referred the following question of law to this Court :

(2.) THE facts, as found by the Tribunal, are that the assessee is an individual deriving income from the running of a hotel named as Agra Hotel, Darya Ganj, New Delhi. In respect of the asst. yr. 1968-69, he filed a return declaring income of Rs. 9,842. THE assessment was, however, completed on an income of Rs. 26,374. Certain additions were made which resulted in the addition to the income returned. After assessment had been completed on 6th April, 1973, the ITO initiated penalty proceedings under s. 271(1)(c) of the Act and, after hearing the assessee, he imposed a penalty of Rs. 13,642 on 12th March, 1976.