COMMISSIONER OF INCOME TAX Vs. PRADEEP KUMAR GANEDIWAL

JUDGEMENT

(1.) HEARD Shri A. P. Patankar, learned counsel for the appellant on admission.

(2.) THIS appeal has been preferred, at the instance of the Revenue, under Section 260A of the Income-tax Act, 1961 (for short "the Act"), against the order dated April 17, 2001, passed by the Income-tax Appellate Tribunal, whereby the appeal preferred by the assessee against the order passed by the Commissioner of Income-tax exercising powers under Section 263 of the Act, has been allowed.

(3.) AFTER having heard learned counsel for the appellant and perusal of the record, we find no merit or substance in the appeal. The Tribunal has recorded a finding that after detailed enquiry made by the Assessing Officer, the proceedings for assessment were completed and no illegality could be pointed out on the revised return. It has also been recorded that since the asscssee had voluntarily surrendered a particular income to buy peace with the Department, no penalty under Section 271(1)(c) of the Act was leviable. AFTER critically examining the impugned order, we find that no substantial question of law is involved in this appeal. Findings of fact recorded by the Income-tax Appellate Tribunal are not subject to challenge in this appeal. Thus, the appeal being without merit or substance, is hereby dismissed.