2004 (5) TMI 48

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..... the Revenue (Income-tax Department) under section 256(2) of the Income-tax Act, 1961, requesting this court to call for the reference on the question proposed for being answered by this court under section 256(1) of the Income-tax Act. This application arises out of an order, dated September 9, 1993, passed by the Income-tax Appellate Tribunal, Indore, in I. T. A. No. 673/Ind of 1992. The Tribunal .....

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..... 6(1) of the Act. The issue relates to imposition of penalty under section 271(1)(c) of the Act. The Commissioner of Income-tax (Appeals) and the Tribunal quashed the penalty imposed by the Income-tax Officer (Assessing Officer) holding that in the absence of any material on record brought by the Assessing Officer showing concealment, in the income of the assessee, no penalty for alleged concealme .....

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..... Tribunal quashed the imposition of penalty. This court cannot go into the question of fact recorded by the two appellate authorities and hence such finding being a finding of fact, the same is binding on this court. We, thus, find that no question of law as such arises in the case. The application is thus, found to be devoid of any substance. It is dismissed.
Case laws, Decisions, Judgements .....

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