INCOME TAX OFFICER Vs. RAMKISHORE REWARAM TADA

JUDGEMENT

(1.) This is an appeal filed by the Revenue (CIT) under Section 260A of the IT Act against an order dt. 25th Nov., 2002 passed by Tribunal in IT Appeal No. 529/Ind/1999. The appeal was admitted for final hearing on the following substantial questions of law: Whether, in the facts and circumstances of the case, Tribunal was right in holding that penalty proceedings under Section 271D are independent of assessment proceedings

(2.) In our opinion yet one real question that arises for consideration in the appeal is whether Tribunal was justified in holding that penalty imposed by AO under Section 271D are barred by limitation as provided in Section 275(1)(c) ibid. We, therefore formulate one following question of law which, in our opinion, arise for consideration: Whether the Tribunal was justified in holding that impugned penalty imposed under Section 271D is barred by limitation as provided in Section 275(1)(c) ibid

(3.) The facts of the case lie in a narrow compass. They need mention in brief.