Law:

Section:

Something more than mere breach should be noticed in conduct of assessee to attract imposition of penalty Section 271B of the Income-tax Act, 1961 - Penalty - Failure to get accounts audited - Assessment years 1989-90 and 1990-91 - Whether once explanation offered by assessee for not filing audited account in time finds favour with authorities and report is taken on record, High Court as a reference court cannot again probe into sufficiency of cause in filing audit report - Held, yes R.L. Jain for the Appellant. ORDER A.M. Sapre, J. - This is an application made under section 256(2) of the Income-tax Act by the Income-tax Department (Revenue) against an order, dated 20-11-1998, passed by Tribunal in case No. RA 107/108/Ind/98 arising out of ITA No. 529 and 530/Ind/93, whereby the application made by the applicant/petitioner i.e. Revenue under section 256(1) of the Act has been rejected holding that no referable question of law arises out of the order of Tribunal. 2. Heard Shri RL Jain, learned counsel for the applicant on the question of admission. 3. We concur with the finding of Tribunal when it was held that no referable question of law within the meaning of section 256(1) of the Act is made out. We thus, also decline to call for the reference on the questions proposed at the instance of Revenue. Let us see the facts. 4. In substance, the question sought to be raised by the Revenue was in relation to imposition of penalty under section 271B of the Act on the assessee for two assessment years in question i.e. 1989-90 and 1990-91 for…

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