1994 (1) TMI 64

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..... wing two questions are referred for our decision: "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in holding that the assessee had not concealed particulars of his income and, accordingly, in cancelling the penalty of Rs. 29,000 imposed under section 271(1)(c) for the assessment year 1967-68 ? 2. Whether, on the facts and in the circumstances o .....

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..... e case, we are inclined to hold that by merely disbelieving the evidence of Nanjappa Devar's son there is no ground for the levy of penalty under section 271(1)(c). " On that ground the penalty levied was cancelled. Aggrieved by that order, at the instance of the Revenue the abovesaid two questions were referred. It is not in dispute that the Supreme Court in CIT v. Anwar Ali [1970] 76 ITR 696 .....

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