2001 (7) TMI 69

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ys that the Income-tax Appellate Tribunal be directed to refer the following question of law for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in cancelling penalty levied under section 273 when the surrender made by the assessee during the enquiry/ investigation cannot be said to be voluntary and also t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... een cornered. The disclosure was not voluntary. Thus, the Tribunal has erred in reversing the order passed by the Commissioner. Is it so? It is the admitted position that an enquiry was held from January 25 to February 8, 1988. Did the Department find any evidence against the assessee? How was the assessee cornered? There is no evidence. A perusal of the order passed by the Tribunal shows th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rust [1967] 66 ITR 619. There is no quarrel with the proposition. So far as the conclusion on the facts is concerned, the evidence has to be examined in each case. The issue as sought to be raised by the Revenue is, in our opinion, fully settled. However, the decision is based on the evidence on record. No question of law arises. Thus, no ground for directing the Tribunal to refer any question to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X