TMI Blog1980 (9) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... erred the following question of law to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that since the default is attributable to the return of income filed in the course of original assessment pertaining to the A.Y. 1964-65 the amended provisions of section, 271(1)(c) with effect from 1-4-1068 are not applicable and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... having concealed income in the return filed in response to the notice under section 148 of the Act. The matter was referred to the IAC who found that the assessee had concealed his income. The IAC further held that the penalty liable to be imposed was with reference to the amount of income concealed in the return filed on October 30, 1969. On appeal before the Tribunal, it was contended that the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bench of this court in Addl. Commr. of Income-tax v. Balwant Singh Sulakhanmal (M.C.C. No. 290 of 1976, decided on 24-9-1979) ([1981] 127 ITR 597), wherein it was observed as follows (at p. 600): "No provision of law has been brought to our notice nor has it been referred to by the Tribunal for holding that even though penalty proceedings are initiated in connection with the return filed in res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal assessment proceedings cannot be upheld. Now, penalty is imposed on account of the commission of a wrongful act, and it is well-settled that it is the law in force on the date on which the wrongful act is committed which determines the penalty, In the instant case, the wrongful act took place on October 30, 1969, when the return in response to the notice under s. 148 of the Act was filed by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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