9911796707
TMI Blog1999 (5) TMI 10X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax, Rohtak, under section 256(2) of the Income-tax Act, 1961 (for short, "the Act"), seeking a direction to the Income-tax Appellate Tribunal, New Delhi (for short, "the Tribunal"), to refer the following question of law in respect of the assessment year 1982-83 for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n earned by him from the plying of trucks belonging to others at Rs. 26,177. Receipts of freight from his own trucks were declared at Rs. 5,23,785. The Assessing Officer made an assessment on the income of Rs. 1,21,205. It included income from commission also, Income from commission was computed at 10 per cent. on the gross freight receipts determined at Rs. 4,14,000. These receipts of freights r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evied penalty on the assessee for concealment of income under section 271(1)(c) of the Act. The assessee again went in appeal before the Commissioner of Income-tax (Appeals) against the levy of penalty but did not succeed. He went in further appeal before the Tribunal, which cancelled the penalty. We have heard learned counsel for the Revenue and the assessee. It appears that the assessee had cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate with regard to the income from commission. The Assessing Officer determined the income of the assessee on estimate basis, The Tribunal noticed that since the difference in estimates was based on a difference of opinion, there was no positive proof regarding concealment of income by the assessee. The assessee had shown expenditure as also the income from commission on estimate basis. The rates ..... X X X X Extracts X X X X X X X X Extracts X X X X
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