COMMISSIONER OF INCOME TAX Vs. SOLOMAN AND CO

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal (Allahabad Bench), referred the following questions to this court for its opinion : ,

(2.) FROM a perusal of the order of the Appellate Tribunal it appears that the order of the Inspecting Assistant Commissioner levying the penalty was set aside on the ground that the assessee had successfully discharged the negative burden cast upon it under Explanation 2 to Section 271(1)(c) of the Income-tax Act, 1961. Whether or not the onus under Explanation 2 to Section 271(1)(c) of the Income-tax Act, 1961, was successfully discharged, is essentially a question of fact and the factual finding having been recorded by the Appellate Trbunal on that has to be accepted.