1984 (8) TMI 40

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..... referred to us by the Tribunal reads as under "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee should not have been penalised under section 273(b) of the Income-tax Act, 1961, when the failure was under section 18A(3) of the Indian Income-tax Act, 1922 ?" A penalty of Rs. 5,000 (Rupees five thousand) was levied on the assessee. We .....

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..... nalty provided by s. 271(1) of the I.T. Act, 1961, for the default mentioned in s. 28(1) of the Indian I.T. Act, 1922. If that be so, the question referred to us is required to be answered in the negative and in favour of the Revenue. It is, however, made clear that when the matter goes back to the Tribunal, the Tribunal will have to consider if called upon to do so by the assessee, the questions .....

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