1973 (1) TMI 22

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..... er section 256(1) of the Income-tax Act, 1961, at the instance of the Commissioner of Income-tax, Kanpur. It is a consolidated reference relating to assessment years 1956-57, 1961-62, 1962-63, 1963-64 and 1964-65. The assessee is a co-operative society registered under the U. P. Co-operative Societies Act, 1912, and its main business includes, inter alia, the sale of sugarcane to the sugar facto .....

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..... ble cause for failure of the assessee to pay the advance tax. Accordingly, it remitted the penalty. The income-tax department went up in second appeal before the Income-tax Appellate Tribunal. The appeals were dismissed by the Tribunal. At the instance of the Commissioner of Income-tax, however, the Tribunal has referred the following question of law for the opinion of this court : " Whether, on .....

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