- (1.) Heard Sri Manish Misra, learned counsel for the appellant.
(2.) The department has come up questioning the correctness of the reversal order of the Assessing Officer and the Commissioner of Income Tax on the ground that the Tribunal has committed an error in proceeding to treat the submissions raised on behalf of the assessee to be correct, inasmuch as, according to the appellant's, the figures given in the return were inaccurate which amounts to a concealment and therefore penalty proceedings were justified.
(3.) Reliance has been placed by Sri Manish Misra, learned counsel for the appellant on the decision reported in : 2014 (1) SCC 674 Mak Data (P) Ltd. V. Commissioner of Income Tax to contend that the profit and loss account which was stated in the return could not be substantiated by furnishing any details or particulars by the assessee. To the contrary the assessee claimed an additional adjustment which clearly established the concealment and non -explanation of the facts about an amount of Rs. 6,04,418/ -. It is this figure which has been treated to be an inaccurate particular for the financial year 2008 and 2009 along with the incorrect figures of leave encashment as detailed in the order of the Assessing Officer.;