COMMISSIONER OF INCOME TAX Vs. BEHERA K C

JUDGEMENT

(1.) THE question referred to this court under Section 256 1) of the Income-tax Act, 1961, runs thus :

(2.) THE short facts are that before the Income-tax. Appellate Tribunal an appeal was filed against the imposition of penalty of Rs. 14,500 under Section 271(1)(c) read with Section 274(2) of the Income-tax Act, 1961. THE Tribunal applied the principles in Commissioner of Income-tax v. Anwar Ali, [1970] 76 ITR 696, (1971), SCR 446(SC) that the revenue failed to establish that the assessee concealed the particulars of his income or deliberately furnished inaccurate particulars of that income. It is on this conclusion that the Tribunal allowed the appeal and directed refund of the payment of penalty, if already the amount had been recovered from the assessee. THE reference arises out of this appellate order.