2006 (12) TMI 117

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..... e Act"), for opinion to this court: "Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was justified in holding that the conditions laid down in Explanation 5(2) to section 271(1)(c) were fulfilled and no penalty was leviable under section 271(1)(c) of the Income-tax Act, 1961?" The reference relates to the assessment year 1990-91. Briefly .....

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..... to clause (c) of sub-section (1) of section 271 penalty in a sum of Rs. 26,090 was imposed which has been sustained during the first appeal. This penalty was deleted by the Tribunal. In doing so, the Tribunal mainly took into consideration the fact that in the case of the assessee as well as in his brother's case surrender was made by their father and not the assessee from whom enquiries were neve .....

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