1988 (2) TMI 34

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....y Y. V. ANJANEYULU J.-The question referred for consideration, on direction from this court under section 256(2) of the Income-tax Act, 1961, is as under: " 1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in setting aside the order of the Appellate Assistant Commissioner, cancelling the levy of penalty of Rs. 3,021 by the Income-....

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.... in the showcause notice. Consequently, it directed the Appellate Assistant Commissioner to consider the question regarding merits. Aggrieved by the aforesaid order, the matter has been carried to this court by the assessee. Looking at the notice under section 274 dated March 12, 1974, we are inclined to accept the assessee's contention that the notice was defective, because the relevant portion i....

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....s view can be found in a decision of this court in CIT v. Chandulal [1985] 152 ITR 238. Mr. A. Satyanarayana, learned counsel for the assessee, represents to this court that the matter relates to 1969-70 and as nearly two decades have since elapsed, the question regarding the merits remained unresolved causing considerable hardship to the assessee. It was pointed out that although there was a d....