1983 (9) TMI 63

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....ence under s. 27(1) of the W.T. Act, 1957 (hereinafter referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, 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 Inspecting Assistant Commissioner has jurisdiction to impose penalty under section 18(1)(c) on December 3, 1977, after the ....

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....t contention. Aggrieved by the order passed by the Tribunal, the assessee sought a reference and it is at the instance of the assessee that the aforesaid question has been referred to this court for its opinion. When the matter came up for consideration before this court, by an order dated July 2, 1981, this court directed the Tribunal to send supplementary statement of the case and to state th....

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....t (as determined by the Wealth-tax Officer on assessment) in respect of which penalty is imposable under clause (c) aforesaid, exceeds a sum of twenty-five thousand rupees, the Wealth-fax Officer shall not issue any direction under sub-section (1) for payment by way of penalty without the previous approval of the Inspecting Assistant Commissioner." Thus, from April 1, 1976, the IAC has no juris....