COMMISSIONER OF INCOME TAX Vs. DEVKINANDAN BHANDARI

JUDGEMENT

(1.) BY this reference under Section 256(1) of the I.T. Act, 1961, the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion :

(2.) THE material facts giving rise to this reference briefly are as follows:

(3.) THE above clause was later on substituted by another, clause, but so far as the present reference is concerned, we are concerned with the relevant Clause (iii) of Section 271(1) of the Act, which was substituted by the Finance Act, 1968. THE Tribunal, therefore, was required to determine the amount of income in respect of which the particulars had been concealed or inaccurate particulars had been furnished. THE Tribunal had to give a finding in that behalf in the penalty proceedings. In this connection, we may usefully refer to the following observation in Addl. CIT v. Dr. V.V. Shrivastava, 1980 122 ITR 908, 912 (MP).