COMMISSIONER OF INCOME TAX Vs. DILSUKHRAI RANGLAL

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has stated a case and referred the following question for opinion of the court in terms of a direction given by the court on November 15, 1973, on an application of the revenue made under Section 256(2) of the Income-tax Act of 1961 (hereinafter referred to as "the Act").

(2.) THE assessee is a firm. THE relevant years of assessment are 1963-64, 1964-65 and 1965-66. THE assessee was required to file its return of Income under Section 139(1) of the Act for these assessment years by June 30, 1963, June 30, 1964, and June 30, 1965, respectively. As a fact, however, the assessee filed returns for all the three years on December 27, 1966. THE Income-tax Officer found that there had been default in filing of the returns and accordingly initiated penalty proceedings under Section 271(1)(a) of the Act and imposed penalties of varying amounts for these years.