1989 (11) TMI 34

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....application under section 27(3) of the Wealth-tax Act, 1957, seeking a reference to this court as enumerated in para 3 of the petition. The Revenue had filed appeals before the Income-tax Appellate Tribunal, Indore Bench, Indore, against the order of the Appellate Assistant Commissioner directing computation of the penalty at 2 per cent. of the assessed tax for each month of default for the ass....