CAPITAL TALKIES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE are three references made under Section 256(1) of the Income-tax Act, 1961, by the Appellate Tribunal at the assessee's instance. The following question has been referred for opinion of the court:

(2.) THE years of assessment relevant to the references are 1965-66 and 1966-67. Admittedly, returns for both these two years were very much belated. THE Income-tax Officer, therefore, initiated proceedings for penalty under Section 271(1)(a) of the Income-tax Act and raised penalties of Rs. 23,194 and Rs. 15,611 for the respective years. THE Income-tax Officer also levied penalty of Rs. 2,350 under Section 273(b) of the Act for the assessment year 1966-67 as the assessee had failed to pay any advance tax and had omitted to show cause when notice was issued. Imposition of penalty on both counts has been confirmed in first appeal as also by the Appellate Tribunal.

(3.) WE make no order as to costs.