1988 (8) TMI 46

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..... rred to as "the Act"), the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the law in force on April 1, 1977 was applicable to the default committed by the assessee and that the additional tax was rightly levied on the .....

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..... the Act was amended with effect from April 1, 1978, excluding from the operation of the provisions of section 104 of the Act, the assessee-company which was engaged in manufacturing goods, it could not be held liable to pay additional tax under section 104 of the Act. This contention was not upheld by the Tribunal and the appeal preferred by the assessee was dismissed. Aggrieved by the order pass .....

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..... visions of section 104 of the Act, as they existed on April 1, 1977, the assessee became liable for additional tax. The Tribunal was, therefore, right in holding that the assessee was liable to pay additional tax in terms of the provisions of section 104 of the Act. Our answer to the question referred to this court is, therefore, in the affirmative and against the assessee. In the circumstances .....

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