1996 (2) TMI 20

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.... the instance of the assessee, the Tribunal referred the following two questions for the opinion of this court under section 256(1) of the Act : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in confirming the penalty imposed under section 140A(3) of the Income-tax Act ? 2. Whether, on the facts and in the circumstances of the case, the T....

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....e assessee sent a reply stating that in view of the decision of the Madras High Court in Sali Maricar's case [1973] 90 ITR 116, the levy of penalty for the non-compliance of the provisions of section 140A(1) was not legal. According to the Income-tax Officer, the provisions of section 140A of the Act were amended by the Taxation Laws (Amendment) Act, 1970, with effect from April 1, 1971, and the p....

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....96. On appeal, the Appellate Assistant Commissioner confirmed the order passed by the Income-tax Officer. On further appeal filed by the assessee, the Appellate Tribunal confirmed the order passed by the Appellate Assistant Commissioner. Before us, learned counsel appearing for the assessee submitted that the order passed by the Tribunal confirming the penalty imposed by the Income-tax Officer ....

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.... was not paid in time. In the assessment year 1976-77, the amended provisions of section 140A came into force with effect from April 1, 1976. The assessee's previous year ended on April 12, 1976, and the return was filed on February 17, 1977. Therefore, the amended provisions of section 140A are applicable to the facts of this case. For the delay in payment of self-assessment tax, the assessee sen....