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C.I.T. v. M/S Suraj Mal Sohan Lal - INCOME TAX REFERENCE No. 32 of 1997  RD-AH 9743 (22 May 2007)
Court No. 37
INCOME TAX REFERENCE NO. 32 OF 1997
M/s. Suraj Mal Sohan Lal, Bareilly
Hon'ble Sushil Harkauli, J.
Hon'ble Ajai Kumar Singh, J.
The following questions have been referred in this case for the opinion of this Court:
"1. Whether the Tribunal was correct in law in upholding the cancellation of penalty of Rs.31,287/- imposed u/s 271 B on the ground that it was not initiated in the course of asstt. proceedings which requirement is not envisaged in the provisions of said penalty ?
2. Whether in the facts and circumstances of the case the Tribunal was justified in upholding the cancellation of penalty on the alternative ground based on the inconsistent stand taken by the assessee with regard to the claim for having riled the audit report alongwith the return of income and thereafter explaining it as a case of omission ?"
The issue of not submitting the audit report in time is covered in favour of the assessee and against the department by a decision of this Court in the case of C.I.T. Vs. Gramin Sadhan (2000) 245 ITR 563. Both the questions are accordingly answered in favour of the assessee and against the department.
Reference is disposed of.
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