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TMI Blog1976 (3) TMI 48X X X X Extracts X X X X X X X X Extracts X X X X ..... revenue, the Income-tax Appellate Tribunal, Cuttack Bench, has stated this case and referred the following question for opinion of the court : " Whether, on the facts and in the circumstances of the case, the learned Tribunal is justified in cancelling the penalties under section 271(1)(c) of the Income-tax Act ? " The assessee is an individual dealing in mill-made cloth The relevant assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Income-tax Officer and those were not thrown away by the revenue. The accounts were accepted and thenceforward the Income- tax Officer proceeded to compute the income of the assessee. He further submits that the assessee has not returned the income basing on estimate or guess work. The cases relied upon by the Inspecting Assistant Commissioner have no relevance in the facts and circumstances of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cancelled the same. It has been indicated by the Supreme Court in the case of Hindustan Steel Ltd. v. State of Orissa, dealing with imposition of penalty under the Orissa Sales Tax Act, that merely because a statute provides for imposition of penalty, penalty is not imposable and, taking the totality of the facts into consideration, it is open to the authority entrusted with imposing of penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sore High Court in the case of D. Halappa Sons v. Commissioner of Income-tax and of the Kerala High court in the case of Commissioner of Income-tax v. Sankarsons and Co. The Appellate Tribunal taking an overall picture of the matter decided not to impose penalty. This question is one of fact and no question of law arises for determination of the court. We would accordingly hold : " In the facts ..... X X X X Extracts X X X X X X X X Extracts X X X X
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