1985 (7) TMI 83

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....d by S. P. GOYAL J.-This judgment will dispose of two cases, Income-tax References Nos. 29 and 30 of 1977, which involve a Common question of law. For the purpose of this judgment, the facts of Income-tax Reference No. 29 of 1977 have been noticed. A penalty of Rs. 4,665 was imposed by the Income-tax Officer on the assessee under section 271(1)(a) of the Income-tax Act for not filing the ret....

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....e, dissatisfied with this order, got the following question referred for the opinion of this court: " Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that in calculating the penalty leviable under s. 271(1)(a)(i) of the I.T. Act, 1961, the amount paid by the assessee under s. 141 of the I.T. Act, 1961, was to be deducted from the amount of tax determ....