1988 (8) TMI 46

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.... section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the law in force on April 1, 1977 was applicable to the default committed by the as....

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....on April 1, 1977, but as sub-section (4) of section 104 of the Act was amended with effect from April 1, 1978, excluding from the operation of the provisions of section 104 of the Act, the assessee-company which was engaged in manufacturing goods, it could not be held liable to pay additional tax under section 104 of the Act. This contention was not upheld by the Tribunal and the appeal preferred ....