COMMISSIONER OF INCOME-TAX Vs. PRAMOD KUMAR MAHESHWARI

JUDGEMENT

(1.) THE Income -tax Appellate Tribunal, Allahabad Bench, Allahabad, has referred the following question of law under Section 256(1) of the Income -tax Act, 1961 (hereinafter referred to as 'the Act'), for opinion to this court: Whether, on the facts and in the circumstances of the case, the hon'ble Income -tax Appellate Tribunal was justified in holding that the conditions laid down in Explanation 5(2) to Section 271(1)(c) were fulfilled and no penalty was leviable under Section 271(1)(c) of the Income -tax Act, 1961? The reference relates to the assessment year 1990 -91.

(2.) BRIEFLY stated the facts giving rise to the present reference are as follows.

(3.) WE have heard Shri A.N. Mahajan, learned standing counsel appearing for the Revenue. We find that this Court in the case of CIT v. Radha Kishan Goel : [2005]278ITR454(All) has upheld the order of the Tribunal where it was held that if the conditions laid down in Explanation 5(2) to Section 271(1)(c) of the Act were fulfilled, no penalty was leviable thereunder.