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TMI Blog1977 (2) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... period of default after April 1, 1969, for the assessment year 1968-69 ? (2) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the assessment proceedings would include penalty proceedings and that the law as it stood on the valuation date for the assessment year 1968-69 would apply in the assessee's case ? (3) Whether, having regard to the provisions of section 18(1)(a), the Appellate Tribunal was right in holding that the law applicable on the date of default should govern the levy of penalty for the entire period of default though the default continued even after April 1, 1969? T.C. No. 247 of 1974. " (1) Whether, on the facts and in the circumstances of the case, the Appellat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e ? (3) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that penalty under section 18(1)(a) should be computed only with reference to the actual amount due or payable by the assessee on the date of imposition of a penalty ? " Thus, it will be seen that the questions are mostly common and relate to the proceedings for the levy of penalty, the controversy being which is the law to be applied--whether the law which was in force on the date of the default or on the date of passing the order levying the penalty. The Tribunal has taken the view that the law that was in force on the date of the commission of the default alone will be applicable. In view of the decisions of this court as wel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... affirmative and against the revenue. There remains the third question in Tax Case No. 259/74. That question covers the point, namely, whether there should be any tax remaining unpaid by the assessee for imposition of penalty on the date when the order imposing the penalty was passed. Following the judgment of the Calcutta High Court in Commissioner of Income-tax v. Vegetable Products Ltd. [1971] 80 ITR 14, the Tribunal held that the penalty has to be worked out on the basis of the tax remaining unpaid on the date of the order of the officer levying the penalty. However, the conclusion of the Tribunal in this behalf has become erroneous in view of the subsequent amendment of the relevant statutory provisions with retrospective effect. Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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