1975 (2) TMI 33

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....m. The assessment year involved is 1964-65. Return of income for this year was not filed within the time prescribed under s. 139(1). The firm had not also filed estimate of advance tax payable during the preceding financial year. The assessment was completed on16th Nov., 1968on a total income of Rs. 61,146. The ITO who completed the assessment failed to initiate proceedings for levy of penalty und....

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....in law. 2. Meanwhile, during the pendency of the assessee's appeal against the above said order of the CIT under s. 263 the ITO completed the fresh assessment proceedings and levied penalties under s. 271(1)(a) and 273(b), having initiated such proceedings in the course of the fresh assessment proceedings. The assessee appealed against these penalties. The AAC took note of the decision of the Tri....

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....nal vide its order dt.30th March, 1972as per details given in order in respect of penalty 271(1)(a) of the Act. The penalty order has thus been passed beyond the period of limitation. It is accordingly cancelled and the appeal is allowed." 4. The Departmental Representative contended in the present appeal proceeding before us that the order of the Tribunal dt.30th March, 1972has been challenged i....