9911796707
TMI Blog2014 (9) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... ries were available - The record discloses that the appellant himself was so anxious to pay the tax and that when in a particular year, the income was below the minimum levels, he added some amounts and filed returns - Whatever may have been the justification in adding the figures so arrived at, to the income of the appellant, there was no justification to initiate the proceedings u/s 271(1)(c) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ol and was running it. His income was assessed to tax for the two years referred to above. A search operation under Section 133A of the Act was conducted. It was noticed that sums of ₹ 46,530/- and 48,380/- for the two years referred to above were not accounted for. The said amounts were added to his income and separate orders of assessment were passed. Though in the appeal preferred by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner allowed the appeals and has set aside the orders levying penalty. The Department filed I.T.A.Nos.1862 and 1863/Hyd/1994. The same was allowed by the Tribunal. However, a direction was issued to the Assessing Officer to levy minimum penalty. Hence, this appeal under Section 260A of the Act. Heard the learned counsel for the appellant and the learned Senior Standing Counsel for the respond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nto account, the number of students and the prescribed fee. It was not even noticed that in several cases, there will be default in payment of fee and the managements of the schools have to discharge their social obligation, be it to poor students or to other important persons in the locality. Whatever may have been the justification in adding the figures so arrived at, to the income of the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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