COMMISSIONER OF WEALTH TAX Vs. SURESHCHANDRA AGARWAL

JUDGEMENT

(1.) THIS is an application under section 27(3) of the Wealth -tax Act, 1957, seeking a reference to this court as enumerated in para 3 of the petition.

(2.) THE Revenue had filed appeals before the Income -tax Appellate Tribunal, Indore Bench, Indore, against the order of the Appellate Assistant Commissioner directing computation of the penalty, at 2 per cent. of the assessed tax for each month of default for the assessment years 1973 -74 to 1975 -76. The Tribunal was of the view that the matter stands conclude by the decision of the Supreme Court in Maya Rani Punjs case : [1986]157ITR330(SC) . The appeals were, accordingly, dismissed.

(3.) AFTER considering the arguments raised by learned counsel for the parties, we are of the opinion that this matter has already been concluded by the Supreme Court decision reported in Maya Rani Punjs case : [1986]157ITR330(SC) having been followed by this court on M. C. C. No. 252 of 1987 CWT v. Babulal Agrawal : [1989]176ITR497(MP) ), there is no case for admission of this application. The application by the Revenue is, therefore, dismissed with no order as to costs.