1985 (12) TMI 73

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....ty of Rs. 35,000 imposed by the IAC under s. 273(b) of IT Act, 1961. 2. The assessee filed the return of income showing total income of Rs. 45,726. The assessment was completed on 31st Dec., 1980 on an income Rs. 1,96,730. It was subsequently enhanced by the CIT(A) to Rs. 6,27,080 which was reduced by the Tribunal to Rs. 1,82,240. 3. The IAC also initiated penalty proceedings, among others, ....

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.... association of persons, obviously the above reminder had been issued to the assessee in the status. Rejecting the various contentions raised on behalf of the assessee, the IAC finally imposed a penalty of Rs. 35,000 under the above section on 30th March 1983. It will be relevant to mention that one of the contentions raised in paragraph 9 of the assessee's letter dt. 25th Oct., 1983 also was: ....

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.... In this connection, he referred to the following decisions: 1. C.P. Venkataraman vs. CIT (1970) 75 ITR 65 (Mad) 2. CIT vs. Lalit Mohan (1977) 106 ITR 817 (All). His second submission was that no show cause notice had been served on the assessee and that only a reminder had been issued on 7th March, 1983. We have already referred to this reminder in our this order above. The ld. Departmen....