1988 (7) TMI 13

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..... n of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal is justified in law in holding that in view of the decision of the Supreme Court in Maya Ran?' Punj's case [1986] 157 ITR 330, the penalty for default under section 18(1)(a) was required to be computed in accordance with the provisions of the amended law even in respect of default for the period prior to the amendment made with effect from April 1, 1976 ?" The statement of facts may be stated, in brief, thus : The assessee is an individual. As returns of wealth were not filed, the Wealth-tax Officer issued notices under section 17 of the Wealth-tax Act, which were served on December 15, 1981. In response to these said notices, the assessee filed w .....

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..... Officer filed an appeal before the learned Tribunal, which held that it cannot interfere for the obvious reason that the impugned finding is based on the ratio of the judgment of the Supreme Court. Accordingly, the Tribunal dismissed the appeal filed by the Department. Aggrieved by the order of the learned Tribunal, the Department filed a reference application under section 27(3) of the Wealth-tax Act seeking reference on the question of law referred to above for the opinion of this court. Learned counsel for the petitioner, relying on the Division Bench decision of this court in Addl. CWT v. Manjuladevi Muchhal [1979] 119 ITR 43, submitted that in this decision, it has been held that as the assessee committed defaults in filing the retu .....

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..... ferred to above (Maya Rani Punj v. CIT [1986] 157 ITR 330) has impliedly overruled the decision in Addl. CWT v. Smt. Manjuladevi Muchhal [1979] 119 ITR 43 (MP), on which learned counsel for the applicant has placed reliance. The Tribunal, in our opinion, has rightly relied upon the said Supreme Court decision which has interpreted the provisions of law regarding the levy of penalty in such a case. In these circumstances, in our opinion, the view taken by the Tribunal in the light of the Supreme Court decision being quite proper, we decline to call upon the Tribunal to make a reference as prayed for by the petitioner in these cases. In the result, the reference applications are dismissed with no order as to costs. - - TaxTMI - .....

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