1978 (3) TMI 76

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....s application under s. 256(2) of the I.T. Act, 1961, hereinafter referred to as " the Act ", the Addl. CIT, Madhya Pradesh, Bhopal, has prayed that the I.T. Appellate Tribunal, Indore Bench, Indore, be required to state the case and refer to this court the following questions of law : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in ignoring the pro....

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.... imposed on the assessee-firm by the IAC of Income-tax, by his order dated 22nd January, 1972, under s. 271(1)(c) of the Act. On an appeal before the Tribunal, it was urged on behalf of the assessee that the assessment proceedings for the year 1968-69 were completed on 9th December, 1969, and in view of the provisions of s. 275 of the Act prescribing the period of limitation, the order of penalty ....

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....ised before the Tribunal at the time of hearing of the appeal. But the said question was implicit in the question of limitation which the Tribunal had considered. Shri Chitale, learned counsel for the assessee, therefore, very fairly conceded that the question as to whether the order of penalty could be held to be illegal in view of the provisions of s. 275 of the Act, as amended by s. 50 of the T....