TMI Blog1978 (9) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... led after 1st April, 1964. The assessee is a registered firm. It runs a steel rolling mill at Kanpur. For the assessment year 1961-62, the assessee filed its return on the 24th August, 1961. It filed a revised return on the 13th September, 1961. The assessment was completed by the order dated 14th September, 1961. Assessments for the assessment years 1962-63 and 1963-64 were completed on the 19th February, 1963, and the 24th December, 1963, respectively, under s. 143(3) of the Act. It is thus evident that the returns were filed prior to the date of the assessment orders. In other words, the returns of income for all these three assessment years were filed long before the 1st April, 1964, when s. 271(1)(c) was amended and an Explanation ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssion of the default. The default in respect of cl. (c) of s. 271(1) for concealment of income is committed when the return is filed. In these cases, the returns were filed on 17th April, 1967. Hence, the provision, as it stood after amendment on 1st April, 1964, including the Explanation, was applicable. Learned counsel relied upon CIT v. Data Ram Satpal [1975] 99 ITR 507. In this case this court held that the principle that the law applicable under the I.T. Act to a particular assessment year is the law prevailing on the first day of April of that year does not apply to penalty proceedings, as penalty proceedings are not part of the assessment proceedings. The law which will apply to penalty proceedings will be the law as it stood on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the original return was filed. That was before April 1, 1964. The filing of the revised return was immaterial. The view taken in Ram Achal's case [1977] 106 ITR 144 (All) was reaffirmed by this court in Addl CIT v. Jiwan Lai Shah [1977] 109 ITR 474. It was held that for purposes of penalty proceedings the relevant return was the original return and not the return filed subsequent thereto. In the present case, the original returns for all the three years were filed long before the 1st April, 1964. The subsequent returns which were filed on the 17th September, 1967, in response to the notice under s. 148 were immaterial and not relevant. The submission raised on behalf of the revenue that the provisions as they stood after their amendment o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
