1979 (2) TMI 146

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..... f the AAC against that assessment, the penalty order, the grounds of appeal before the AAC and also the appellate order cancelling the penalty. We heard the departmental representative as well as the assessee. We have no hesitation to agree with the reasoning and conclusion of the AAC. So this appeal has to be dismissed. We fully endorse the reasoning and conclusions of the AAC. 3. Anwar Ali's c .....

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..... satisfaction of the assessing authorities was on account of the fraud, gross or wilful neglect on the part of the assessee. So the Explanation is of no practical value in this case. 4. There is a marked difference and distinction between assessment and penalty proceedings. That has been correctly noticed and mentioned by the AAC. It is now well settled that penalty does not follow assessment. Th .....

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..... source is thoroughly unbelievable. If such a material has been brought on record, then perhaps the complexion of the case might change. Merely because the explanation of the assessee was rejected, it does not mean that the amount added on account of rejection of the explanation is the income of the assessee. If it is not positively proved to be the income of the assessee, then there is also no que .....

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