Law:

Section:

Section 256, read with section 271(1)(c), of the Income-tax Act, 1961 - Reference - Question of fact - Assessee was imposed with penalty for concealment of income by ITO but Tribunal on facts found no conscious concealment of income and set aside ITO's order - Whether any referable question of law arose from order of Tribunal - Held, no Facts Pursuant to reassessment proceedings initiated by the ITO, the assessee was imposed with a penalty under section 271(1)(c) for concealment of income. On appeal, the Tribunal set aside the order of the ITO on the ground that there was no conscious concealment of income on the part of the assessee. The Tribunal also rejected the revenue's application under section 256(1). On application under section 256(2): Held The question as to whether on the facts and in the circumstances of the case there was a conscious concealment of income on the part of the assessee, is a question of fact and not a question of law. The Tribunal had given its findings on the basis of certain facts that there was no conscious concealment of income on the part of the assessee. Therefore, the Tribunal was justified in rejecting the application under section 256(1) as no referable question of law arose out of the Tribunal's order. Case referred to CIT v. Radheyshyam Garg [Misc. Civil Case Nos. 295 and 296 of 1984]. R.C. Mukati for the Applicant. J.W. Mahajan for the Respondent. Judgment Sohani, J.- The order in this case will also govern the disposal of CIT v. Radheshyam Garg [Misc. Civil Case Nos. 295 and 296 of 1984]. 2. These are applications under section 256(2) of the Income-tax Act, 1961 ('the Act'). The material facts giving rise to these applications, briefly, are as follows: Proceedings for reassessment were commenced against the assessee for the relevant assessment years and thereafter penalty proceedings were also initiated under section 271(1)(c) of the Act. Aggrieved by the order passed by the ITO imposing penalty, the assessee preferred appeals before the AAC which were dismissed.…

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