9911796707
TMI Blog1995 (8) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... e-tax Tribunal, vide its order dated March 19, 1992, mainly on the ground that the question of law involved does not require reference. On the facts, the Tribunal had held : " Keeping in view the totality of facts and circumstances of the case, we are satisfied that non-disclosure of the amount of Rs. 88,408 by the assessee in the closing stock, when he filed the original return, was due to a bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urge that as the finding arrived at by the Tribunal was without considering the entire material on record, the question of law arose which required reference to this court. The facts of the present case are distinguishable as in the present case, the Tribunal has arrived at the finding of bona fide mistake upon a consideration of the entire material on record. In its order passed in the appeal of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade by the assessee, though on a prodding by the Assessing Officer. The disclosure of information, thus, preceded the formation of satisfaction by the Assessing Officer rather than following it. The explanation given by the assessee is bona fide and there is total absence of any intent to deceive because the total tax paid by the assessee and its partners on the basis of the original return for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use the tax payable by the assessee-firm and its partners was much more than the tax which was finally held to be payable on the basis of the revised returns by the assessee and its partners. " The reliance of learned counsel for the petitioner on CIT v. Suraj Bhan, Wine Contractor [1989] 177 ITR 243 (P H) is also misplaced inasmuch as in that case the judgment was announced in the absence of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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