9911796707
TMI Blog1971 (7) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... question for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the penalties levied on the assessee under section 273(b) of the Act of 1961 for the assessment years 1958-59 and 1959-60 were rightly cancelled ? " The assessee is a limited company. For the assessment years 1958-59 and 1959-60 the assessee should have paid tax under section 18A(3) of the Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t were not attracted at all in the case a default under the repealed Act of 1922. The Tribunal pointed out that there was no specific provision in the Act of 1961 deeming that the default under section 18A of the repealed Act of 1922 would be a default under section 212 of the Act of 1961. At the instance of the Commissioner of Income-tax the Tribunal has referred this case. It seems to us that s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visional assessments were made under section 23B before that. The assessment order under section 23, it is said, was also made before that date. Upon this he contends that section 297(2)(g) does not come into play, and, therefore, section 273 of the Act of 1961 cannot be applied. He says that this submission was raised before the Tribunal during the hearing of the appeals but the Tribunal declined ..... X X X X Extracts X X X X X X X X Extracts X X X X
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