COMMISSIONER OF INCOME TAX Vs. MEDIPAC P LTD

JUDGEMENT

(1.) AT the instance of the revenue, following questions have been referred by the Tribunal, Delhi Bench 'B', under S. 256(1) of the IT Act, 1961 ('the Act') for opinion of this Court :

(2.) WE had occasion to deal with the question of penalty under S. 271(1)(c) of the Act in IT Ref. No. 314 of 1982 and following the decision of this Court in CIT vs. La Medica (1992) 105 CTR (Del) 181 : (1992) 198 ITR 327 (Del) : TC 28R.213, it was held that the Tribunal was not justified in cancelling the penalty under S. 271(1)(c) and so far as S. 273(a) of the Act is concerned, the logic is equally applicable. The parameters are not entirely different. Therefore, the Tribunal was not justified in cancelling the penalty under S. 273(a). Accordingly, we answer the first question, so far as S. 273(a) is concerned, in the negative, in favour of the revenue and against the assessee. In view of the answer to first question, it is unnecessary to answer the other two questions referred.