2009 (9) TMI 164

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....appellant. R. R. Agarwal for the respondent. JUDGMENT 1. The present appeal filed under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), against the order dated August 3, 1999, passed by the Income-tax Appellate Tribunal, Delhi, has been admitted, vide order dated December 10, 2002, on the following substantial question of law : "Whether, on the facts an....

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....quired to be filed by June 30, 1989, was not filed. Penalty proceedings were initiated, vide notice dated March 5, 1992. The reply was submitted on May 1, 1992. Form No. 26A was filed on January 20, 1992. The total amount of tax deductible was Rs. 2,337. The assessing authority imposed Rs. 99,500 as penalty treating the period of penalty by 995 days and Income-tax (Appeals), Meerut, partly allowed....

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....ppeals) in reducing the penalty to the amount of tax deductible, i.e., Rs. 2,337. The submission is wholly misconceived. It is not in dispute that Form No. 26A was filed on January 20, 1992. Non-filing of form, as required is a continuing offence. See Maya Rani Punj  v. CIT [1986] 157 ITR 330 (SC). Therefore, law which was applicable on the date when the form was filed would be applicable whi....