COMMISSIONER OF INCOME TAX Vs. RADHESHYAM GARG

JUDGEMENT

(1.) THE order in this case will also govern the disposal of Miscellaneous Civil Case No. 295 of 1984 (CIT vs. Shri Radheshyam Garg,) and Miscellaneous Civil Case No. 296 of 1984 (CIT vs. Shri Radheshyam Garg,).

(2.) THESE are applications under s. 256(2) of the IT Act, 1961 (hereinafter referred to as "the Act"). The material facts giving rise to these applications, briefly, are as follows : Proceedings for reassessment were commenced against the assessee for the relevant assessment years and thereafter penalty proceedings were also initiated under s. 271(1)(c) of the Act. Aggrieved by the order passed by the ITO imposing penalty, the assessee preferred appeals before the AAC, which were dismissed. The assessee thereafter filed second appeal before the Tribunal. The Tribunal held on the basis of the material on record that there was no conscious concealment of income on the part of the assessee. In this view of the matter, the Tribunal set aside the order passed by the ITO imposing penalty. The Revenue thereupon preferred applications under s. 256(1) of the Act before the Tribunal requiring the Tribunal to refer the following question of law to this Court for its opinion :