A.N. Verma, J. - (1.) These are three income-tax applications under Section 256(2) of the Income-tax Act, 1961, seeking a direction to the Income-tax Appellate Tribunal to refer a common question stated to be a question of law for the opinion of this court.
(2.) Income-tax Applications Nos. 215 of 1991 and 216 of 1991 relate to the assessment years 1979-80 and 1980-81, respectively, and are directed against Hari Chand and Income-tax Application No. 217 of 1991 is directed against Lakhpat Singh and arises out of the proceedings for the assessment year 1978-79. As the questions proposed arise out of common facts, it is convenient to dispose of these applications by a common order.
(3.) Having heard learned counsel appearing for the Commissioner of Income-tax as well as the assessee, we are not satisfied that, on the facts of these cases as found by the Tribunal, any statable question of law arises out of its orders. The question on which the reference is sought is : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in confirming the order of the Appellate Assistant Commissioner cancelling the penalty under Section 271(1)(c) and holding that the assessment has been made on agreed basis and that the penalty is not exigible ?";