PAHULAL VED PRAKASH Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE are two cross-applications under Section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), one filed by the assessee and the other by the Commissioner of Income-tax, Kanpur. We shall deal with these applications separately.

(2.) THE assessee is a partnership firm. THE dispute relates to the assessment year 1975-76 and arises out of penalty proceedings under Section 271(l)(c) of the Act. THE following two questions have been proposed in the application filed by the assessee :

(3.) HAVING heard learned counsel for the assessee, we are not satisfied that any one of the two questions set out earlier are questions of law in respect of which the Tribunal should be called upon to submit a statement of the case to this court.