2002 (7) TMI 53

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....-In pursuance of the directions of this court, the Income-tax Appellate Tribunal has stated a case and referred the following questions of law for our consideration in relation to the assessment year 1966-67 of the assessee: "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in setting aside the order of the Commissioner of Income-tax (Appeals) ....

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....on, the Income-tax Officer instituted penalty proceedings and imposed a penalty of Rs. 60,000 by his order dated March 27, 1980. On appeal, the Commissioner (Appeals) held that the Income-tax Officer has no jurisdiction to levy the penalty as according to him the order of penalty ought to have been passed by the Inspecting Assistant Commissioner and the Income-tax Officer lacked the necessary juri....

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...., held that the Income-tax Officer has the necessary jurisdiction to impose the penalty and that part of the order of the Commissioner of Income-tax (Appeals) was set aside. At the time of hearing the appeal before the Tribunal, the authorised representative of the assessee raised a point that the matter should be remitted back to the Commissioner of Income-tax (Appeals) on the ground that the que....

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....of the authorised representative of the assessee before the Tribunal was that the Commissioner has not considered the matter properly at the time of considering the question as to whether the Income-tax Officer was justified on the facts of the case that the penalty should be levied. The Tribunal felt that the interest of justice would be met by directing the Commissioner of Income-tax (Appeals) t....