9911796707
TMI Blog1991 (7) TMI 30X X X X Extracts X X X X X X X X Extracts X X X X ..... court tinder section 256(l) of the Income-tax Act, 1961 : " Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in confirming the Appellate Assistant Commissioner's interpretation of the words assessed tax in the case of a registered firm for the purposes of levy of penalty under section 271(l)(a)of the Income-tax Act, 1961 ? " The assessee is a partner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... without reasonable cause, failed to furnish the return of income with the time allowed under section 139(1). I, therefore, impose a penalty of Rs. 2,200 for 13 months default at 2 per cent. per month of tax payable for each month of default. Issue notice of demand and challan. " The assessee appealed to the Appellate Assistant Commissioner. Certain explanation was put forward by the assessee for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est to the tune of Rs. 1,313 has already been charged, there is no justification for the imposition of penalty at Rs. 2,500 under section 271(l)(a). The same is, therefore, cancelled. " The Department appealed to the Tribunal. It was argued that the Appellate Assistant Commissioner erred in setting aside the Income-tax Officer's order which calculated the penalty amount correctly by treating the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the appeal of the Revenue. In this view of the matter, we uphold the orders of the Appellate Assistant Commissioner. In the result, the appeal of the Revenue is dismissed. It is thereupon that the Revenue applied for and obtained the present reference. It is true that sub-section (2) of section 27l provides that, when penalty is imposed upon a registered firm, the penalty imposable under sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... educed by the sum, if any, deducted at source or paid by way of advance tax, as the case may be. In the circumstances of the case, we are of the opinion that the Tribunal was justified in dismissing the Revenue's appeal. In our opinion, the case turns on facts and no question of law really arises from the order of the Tribunal. Be that as it may, the question referred is answered in the affirmativ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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