COMMISSIONER OF INCOME TAX Vs. SHARADCHANDRA HARILAL

JUDGEMENT

(1.) THE Tribunal, Ahmedabad, has referred the following questions under S. 256(1) of the IT. Act to this Court for its opinion :

(2.) A few facts necessary for the purpose of disposal of this case are as under :

(3.) THE assessee went in appeal to the AAC. The appeals for both the years were heard together. The assessee urged that the facts for the asst. yrs. 1967 68 and 1968 69 being similar to the facts of the asst. yrs. 1964 65 and 1966 67 and the Tribunal having already held that, for the asst.yr. 1965 66, no penalty was leviable either under S. 271(1)(c) or under the Explanation to the said section, the ITO was not justified in taking a different view and, accordingly, he allowed the appeal and cancelled the penalties levied by the ITO for both the years.