TMI Blog1996 (7) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... ons have been referred by the Income-tax Appellate Tribunal, Amritsar, relating to the assessment years 1968-69 and 1969-70, for the opinion of this court : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the Explanation to section 271(1)(c) which was deleted by the Taxation Laws (Amendment) Act, 1975, with effect from April 1, 1976, was ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he facts on the record, held that the penalty was imposable on the assessee in respect of two additions made in the assessment recorded in the trading account to the extent of Rs. 1,54,177 and in respect of the claim for payment of commission to the extent of Rs. 25,812. The Income-tax Officer held that the assessee had concealed particulars of its income and imposed a penalty of Rs. 1,79,989, whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nation which was in existence from April 1, 1964, to April 1, 1976. Parliament, by an amendment, substituted the earlier Explanation by another set of four Explanations with effect from April 1, 1976. The Commissioner of Income-tax (Appeals) was of the view that the Income-tax Officer had erred in relying upon a provision which was not in existence on the date notice for levying the penalty was is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the main provisions have not been applied and it was necessary to give a finding whether the penalty was imposable under the main provision itself or not. The Tribunal further found that the Commissioner of Income-tax (Appeals) had not considered the matter on the merits. The order of the Commissioner of Income-tax (Appeals) was set aside and the case was remanded to the Commissioner of Income- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be open to the assessee to raise this point before the Commissioner of Income-tax (Appeals), where the appeal is pending for disposal on the merits. It shall be for the Commissioner of Income-tax (Appeals) to decide the question regarding imposability of penalty on merits in accordance with law. Counsel for the assessee did not press for answers to the questions referred to us as the matter is p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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