Gujarat Court September 1981 Judgments

Commissioner of Income-tax, Gujarat Vs. C. Shantilala and Co.

Court: Gujarat

Reported in: [1982]136ITR522(Guj)

P.D. Desai, J.1. The Income-tax Appellate Tribunal has stated the case and referred the following question of law for the opinion of this court pursuant to the direction issued under s. 256(2) of the I.T. Act, 1961 (hereinafter referred to as 'the Act' : 'Whether, on the facts and in the circumstances of the case, and in view of section 271(1)(a) read with section 271(2) of the Act, the Tribunal was right in law in canceling the order levying penalty on the ground that the assessee was not liable to pay any tax on account of the advance tax and tax having been paid under section 140A of the Act ?' 2. The facts giving rise to the reference are few. The assessment year involved herein is assessment years 1967-68, the previous years being S.Y. 2022. The assessee is a registered partnership firm. The assessee was required to furnish its return of income for the assessment year in question on or before June 30, 1967. The assessee made an application for extension of time up to September 30,...