1982 (7) TMI 53

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....SHUKLA J.-This is a reference under s. 27(1) of the W.T. Act, 1957, by the Income-tax Appellate Tribunal, Indore, stating the case and referring it to us for opinion on the following question : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in cancelling the penalties imposed by the WTO u/s. 18(1)(a) of the W.T. Act, 1957, in respect of the asses....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....xtended till the end of February, 1972. According to the Tribunal since the wealth of the assessee included agricultural assets, he was entitled to the benefit of the extended date, vide the aforesaid circular. On this ground the penalties were deleted. Learned standing counsel for the Revenue contended before us that the Tribunal erred in holding that the assessee was entitled to the benefit o....