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TMI Blog1990 (5) TMI 30X X X X Extracts X X X X X X X X Extracts X X X X ..... section 220(2A) of the Income-tax Act and further commanding the Commissioner to rehear the application after giving sufficient and adequate opportunity of adducing records in respect of such application on the ground that the exercise of the power by the Commissioner of Income-tax under section 220(2A) of the said Act is a quasi-judicial exercise of power and, as such, the Commissioner of Income-tax acted without jurisdiction in not exercising his jurisdiction in accordance with the provisions thereof. It appears from the order dated October 31, 1989, that the Commissioner of Income-tax, West Bengal-II, P-7, Calcutta, has found that the conditions precedent for the exercise of discretion for the waiver of interest under section 220(2) ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enalty and reduction or waiver and at what stage the Commissioner could reduce or waive penalty. It has also been considered there as to whether the Commissioner could do so only after penalty is imposed and whether the penalty could be waived or reduced even in respect of an assessment year prior to the introduction of section 271(4A). The whole discussion related to the matter as to whether the letter of the Commissioner can be treated as an order reducing the penalty and whether the assessee could raise that point before the High Court on the ground that the point is implicit in the questions referred. Another decision cited from the Bar is Indra and Co. v. CIT [1980] 122 ITR 510 (Raj). It was made clear that an application for waiver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come-tax Act will have to be taken as prospective or it will have retrospective effect. The law is very clear that, unless provided in the statute, the law is always presumed to be prospective in nature. There cannot be any implied inference of any retrospective operation of law. The retrospective operation must be clear and unambiguous. Nothing could be inferred by any stretch of imagination. Admittedly, the introduction of section 220(2A) of the said Act has been made in the year 1984. The assessee asked the Commissioner to exercise his jurisdiction for the periods prior to the introduction of such law in the proper perspective. This court has given its anxious consideration to the matter but could not reconcile with the submission made ..... X X X X Extracts X X X X X X X X Extracts X X X X
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