9911796707
TMI Blog1998 (11) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 256(1) of the Income-tax Act, 196 1, the Income-tax Appellate Tribunal has referred the following question of law to this court for opinion at the instance of the assessee: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in confirming the amount of penalty of Rs. 40,764 levied under section 271(1)(a)/271(2) of the Income-tax Act, 1961, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 271(2) of the Act, since the assessee was a registered firm. The assessee appealed to the Appellate Assistant Commissioner. The Appellate Assistant Commissioner following the decision of the Calcutta High Court in CIT v. Vegetable Products Ltd. [1971] 80 ITR 14, recalculated the penalty and reduced the quantum of penalty to Rs. 40,764. The assessee went in further appeal to the Income-tax Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tumacious or dishonest or whether the assessee had acted in conscious disregard of its obligation. We are unable, however, to take any decision as to the conduct of the assessee or as to the reasonable cause for the delay in filing the return, in the absence of the assessee having not shown any such reasonable cause either before the lower authorities or before us. We are, therefore, satisfied, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e No. 37 of 1988), decided on September 22, 1992, by which the controversy whether the penalty could be levied on the registered firm under section 271(1)(a) read with section 271(2) of the Act even when the assessee is not liable to pay any tax as a registered firm after considering the advance tax paid by it in the status of a registered firm has been referred to a larger Bench. We have consider ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1(1)(a) of the Act. The Tribunal has specifically recorded this fact in its order. On a consideration of the totality of the facts and circumstances of the case, the Tribunal has come to the conclusion that the provisions of section 271(1)(a) of the Act are attracted to the case of the assessee. We do not find any infirmity in the above finding of the Tribunal. The Tribunal was justified in the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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