2000 (10) TMI 4

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..... prayed for determination of the following question of law: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in deleting the penalty of Rs.72,370 imposed under section 271(1)(c) of the Income-tax Act, 1961, by holding that where the addition has been made by applying the proviso to section 145(1) of the Income-tax Act, the same canno .....

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..... issing the appeal of the Revenue. We have heard Shri R. P. Sawhney, senior advocate appearing for the appellant, and have gone through the record. In our opinion, no question of law, much less a substantial question of law arises for determination in this appeal. A perusal of the order passed by the Commissioner of Income-tax (Appeals) shows that he had accepted the assessee's plea that ther .....

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..... ition had been made on estimate under the proviso to section 145(1) by adopting the view that the gross profit shown in the books of account was too low as there were defects in the method of accounting employed, did not automatically lead to the conclusion that there was failure to return the correct income by means of fraud or gross or wilful neglect. Though the onus to prove that there was no f .....

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