1999 (7) TMI 9

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..... n 256(2) of the Income-tax Act, 1961, seeking a mandamus directing the Income-tax Appellate Tribunal, Bangalore (for short "the Tribunal"), to refer the following two questions of law along with the statement of case to this court for its opinion : (1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in law in cancelling the penalty under .....

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..... ve years disclosing income of Rs. 17,30,350, Rs. 3,28,680 and Rs. 11,26,600, respectively. The Assessing Officer framed the assessment on the revised returns and simultaneously issued notice for imposition of penalty on the ground that the assessee was guilty of concealment of income. The plea was that the revised returns were filed after the survey was conducted and, therefore, there was a concea .....

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..... 1) requesting the Tribunal to refer the two questions of law said to be arising from the order of the. Tribunal which has been dismissed holding that the finding regarding concealment of income was a finding of fact and no referable question of law arises. We have examined the order of the Tribunal carefully and we are in agreement with the same. In our opinion, the finding recorded by the Tribu .....

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