TMI Blog1998 (4) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... ks a direction to the Tribunal to refer the following question for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in law in coming to the conclusion that penalty under section 273(2)(a)/273(2)(aa) cannot be imposed in a case where interest under section 215 has been partly waived under rules 40 and 117A of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee could not make a fair and intelligent guess of advance tax liability. He found that there is no mala fide intention on the part of the assessee. On further appeal, the Tribunal held that since the interest is waived no penalty can be imposed, and the request of the Revenue to refer the case for the opinion of this court was rejected. Hence, the present application. Having regard to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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