ANIL KUMAR TODY Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THE Tribunal Indore Bench, has made this reference under s. 27 (1) of the WT Act, 1957 (`the Act') to this Court for its opinion on the following questions of law :

(2.) THE material facts giving rise to this reference, as per the statement received may be stated, in brief, thus : For the asst. yrs. 1973-74 and 1974-75, on reference by the WTO to the IAC under s. 18 (3) of the Act, penalties at Rs. 1,80,000 and Rs. 5,000, respectively, were imposed under s. 18 (1) (c) by the IAC. In appeal, the Tribunal reduced the penalty to Rs. 3,650, and Rs. 4,650 respectively. THE WTO had completed the assessment on 21st March, 1975 who made the reference to the IAC on 15th Jan., 1977. THE Taxation Laws (Amendment) Act, 1975 was admittedly amended on 1st April, 1976.

(3.) AT the hearing of this petition, none appeared on behalf of the assessee, though SPC was issued to him.