1989 (2) TMI 84

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..... red to as "the. Act"), the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following question of law to this court for its opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the penalty ? " The material facts giving rise to this reference, briefly, are as follows : For the assessment year 1973-74, the Income-tax Of .....

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..... unal, the Revenue sought reference and it is at the instance of the Revenue that the aforesaid question of law has been referred to this court for its opinion. Now, the Tribunal has found that the assessee was a partner of a firm, that the partners of the said firm were not properly literate, that the said partners entirely depended upon the munims for finalisation of the accounts and that the a .....

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