COMMISSIONER OF INCOME TAX Vs. N RAMA DEVI

JUDGEMENT

(1.) THE Tribunal has recorded a finding that there was concealment of income and that finding is not an issue before us. THE Tribunal further proceeded to hold that the law applicable in the matter of levy of penalty is the law as on the date of return and not on the date of the initiation of the proceedings and, therefore, the penalty that was imposed by the Income-tax Officer is not correct, since he has acquired jurisdiction to impose penalty only on and after April 1, 1971, while concealment was found to be made in the returns filed on February 27, 1970, and October 27, 1970, for the assessment years 1969-70 and 1970-71, respectively. THE amounts concealed were Rs. 19,552 and Rs. 16,645, respectively.

(2.) THE Revenue, being aggrieved by the order of the Tribunal has caused the reference of the following two questions for our consideration :