1989 (3) TMI 95

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..... ed by S. S. SODHI J.- In the matter of penalty for concealment of income, is the law applicable as on the date of the filing of the original return or when a return is filed in pursuance of notice issued to the assessee under section 148 of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). This is the main point in issue which arises in this reference. In the original return, file .....

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..... s were, thereafter, initiated against the assessee under section 271(1)(c) of the Act and a sum of Rs. 20,000 was eventually imposed as penalty upon the assessee. This was, later, upheld in appeal by the Appellate Assistant Commissioner. This order was, however, upset by the Tribunal holding that on the date on which the original return had been filed, that is, September 14, 1964, the Income-tax O .....

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..... g inaccurate particulars thereof was committed by the assessee at the time of filing the return of income pursuant to the notice under section 148 ? (3) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the Income-tax Officer acted without jurisdiction in levying the penalty in this case ? " The answer here is provided by the judgm .....

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