2000 (12) TMI 14

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..... e-tax Appellate Tribunal, Delhi Bench-D (in short "the Tribunal"), has referred under section 256(1) Of the Income-tax Act, 1961 (in short "the Act"), the following question, common to both references, for the opinion of this court: "Whether, on the facts and circumstances of the case, the Appellate Tribunal is right in law in cancelling the penalties levied by the Inspecting Assistant Commissio .....

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..... il 1, 1976, is not the question here. Therefore, when the reference was made the Inspecting Assistant Commissioner had been divested of his jurisdiction to impose penalty. That being the position, the Tribunal was justified in its conclusion. The answer to the question referred, therefore, is in the affirmative, in favour of the assessee and against the Revenue. The references stand disposed of .....

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