1997 (11) TMI 14

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e arises out of the order of the Tribunal passed in ITA 2004/Mds/1979 relating to the asst. yr. 1971-72. The Tribunal referred the following question of law under s. 256(1) of the IT Act for our opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the IAC had no jurisdiction to levy penalty under s. 271(1)(c) r/w s. 274(2) or the IT Act a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the contention of the assessee and held that the IAC had no jurisdiction to levy penalty in view of the intervening amendment made by the Taxation Laws (Amendment) Act, 1975. Against this order of the Tribunal, the Revenue has sought for and obtained the reference on the question of law stated supra. 3. During the pendency of the reference,, the first respondent was reputed to be dead and his ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lls (1997) 142 CTR (Mad) 29 : (1997) 228 ITR 26 (Mad) : TC S49.3948 wherein this Court has field, that the IAC did not lose the jurisdiction to continue the proceedings pending before him on 31st March. 1976, and was entitled to continue with those proceedings and pass appropriate orders according to law. 5. Accordingly, following the said judgments, we are of the view that the Tribunal was not....