2009 (7) TMI 117

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....x Appellate Tribunal, Allahabad, has referred the following question of law under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for the opinion of this court: "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that in view of the assessee filing the return of income within the time up to which ext....

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....rovisions of section 44AB of the Act, a penalty of Rs. 1,00,000 was imposed vide order dated August 28, 1989 under section 271B of the Act. In appeal before the Commissioner of Income-tax (Appeals), the assessee referred to a circular of the Central Board of Direct Taxes (Circular No. 422, dated June 19, 1985), in terms of which considering the facts that the assessment year 1985-86 was the first ....

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.... under section 140A was paid on February 4, 1986. On the facts the learned Commissioner of Income-tax (Appeals) held that the audit report prescribed under section 44AB having been obtained before September 30, 1985, the first condition of the Central Board of Direct Taxes circular was satisfied. Further, the learned Commissioner of Income-tax (Appeals) observed that under the proviso below sectio....

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....er of the learned Commissioner of Income-tax (Appeals) found itself in agreement with the decision of the learned Commissioner of Income-tax (Appeals), in view of the facts that it had taken a similar view in some other appeal. Vide order dated October 31, 1996, rendered in I. T. A. No. 1523 (Alld.) of 1990, the Department's appeal was dismissed. 6. We have heard Sri A. N. Mahajan. learned stan....