COMMISSIONER OF INCOME TAX Vs. GANESH BOOK DEPOT

JUDGEMENT

(1.) THE Tribunal (Allahabad Bench) referred the following question relating to the asst. yr. 1972-73 for opinion of this Court:

(2.) IN this case penalty order was passed by the assessing authority on 20th April, 1978 i.e. subsequent to 1st April, 1976 when jurisdiction to levy penalty was taken away by virtue of the Taxation Laws (Amendment) Act, 1975.

(3.) WITH these observations the matter is sent back to the Tribunal to record a clear finding as to when the reference was made in this case to the IAC to levy the penalty. If the reference preceded 1st April, 1976 when the amendment was made then the IAC would continue to have jurisdiction notwithstanding the subsequent amendment but if reference was made to the IAC after 1st April, 1976 then the view taken by the Tribunal that the IAC had no jurisdiction to levy the penalty would be correct. The reference is disposed of accordingly.