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2008] 303 ITR 49 [2008] 174 TAXMAN 74 (RAJ.) HIGH COURT OF RAJASTHAN Commissioner of Income-tax , Jaipur v. Oriental Power Cable Ltd. R.M. LODHA AND RAGHUVENDRA S. RATHORE, JJ. D.B. IT REFERENCE APPLICATION NO. 18 OF 1994â-  FEBRUARY 27, 2008 Section 271(1)(c) of the Income-tax Act, 1961 - Penalty - For concealment of income - Assessment year 1980-81 - Assessing Officer made certain additions to assessee's income by disallowing certain expenditure claimed by it - On basis of said additions a penalty under section 271(1)(c) was imposed upon assessee - On appeal, Tribunal recorded finding of fact that explanation furnished by assessee could not be said to be false or not bona fide; and that there was no finding of income-tax authorities that assessee had deliberately made false claims for deduction - Tribunal, therefore, deleted penalty imposed upon assessee - Whether any question of law did arise from Tribunal's order - Held, no Abhay Kumar Jain and Ms. Parinitoo Jain for the Appellant. ORDER 1. We heard the counsel for the revenue. 2. The assessee filed his return on 30-7-1980 for the assessment year 1980-81 declaring an income of Rs. 21,97,794. The income of the assessee, however, was computed at Rs. 24,02,551 by the Assessing Officer vide assessment order dated 15-3-1983. 3. On the basis of addition made by the Assessing Officer, he initiated proceedings for penalty and imposed a penalty of Rs. 7,10,155 under section 271(1)(c) of the Income-tax Act, 1961. 4. In appeal by the assessee before the Commissioner of the Income-tax (Appeals), the modification in the order concerning addition in two categories was made. However, the Commissioner of Income-tax held that the part of penalty was leviable. 5. Aggrieved thereby the assessee filed second appeal before the Income-tax Appellate Tribunal. There was cross appeal by the revenue as well. 6. The Tribunal considered the matter threadbare in paragraph 6 of its order which reads thus: "We have considered the rival submissions as also the decisions mentioned above. By now it is well-settled that a more disallowance of the claim or making of an addition in the assessment is not sufficient to attract penalty under…

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