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TMI Blog2001 (10) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961, at the instance of the Department. The respondent-assessee firm deals in certain brands of cigarettes manufactured by Godfrey Philips India Ltd. During the search and seizure operation on January 9, 1986, certain incriminating documents were found and they were seized. During the course of proceedings under section 132(5) the partners of the firm, namely, Smt. Bhagwani Bai and Shri Na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imposing of penalty under section 271(l)(c) of the Income-tax Act. Accordingly, the Tribunal set aside the order of the assessing authority. It is contended by Mr. L. M. Lodha, learned counsel for the Department, that once the concealment has been admitted by the assessee, there was no option for the assessing authority but to accept those penalties as per the mandate of section 271(1)(c) of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ney was collected by the assessee on behalf of the principal company which was business compulsion of the assessee. The Tribunal further found that the assessee has not concealed any part of his income for his own benefits. It is purely a finding on fact. No interference is called for by this court. We do not find any justified reason to interfere with the order of the Tribunal. Accordingly, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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