COMMISSIONER OF INCOME TAX Vs. POPULAR MEDICAL HALL

JUDGEMENT

(1.) IN this case, the INcome-tax Appellate Tribunal, Patna Bench, Patna, has referred the following questions of law for the opinion of this court in relation to the assessment year 1974-75 :

(2.) THE short facts are that the assessee filed a return of income for the previous year relevant to the assessment year 1974-75 on September 13, 1974. During the course of assessment proceedings, the Assessing Officer found that the assessee has suppressed its income to the tune of Rs. 18,822. THErefore, while making the assessment, the Assessing Officer added the said amount towards the income of the assessee. THE Assessing Officer thereafter initiated penalty proceedings under Section 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as "the said Act"). With respect to the aforesaid sum of Rs. 18,822, upon conclusion of the penalty proceedings the original authority imposed minimum penalty of Rs. 18,822 which was equal to the income concealed applying the law prevailing on the date of filing of the return. THE appellate authority confirmed the order passed by the original authority imposing the penalty.

(3.) LET a copy of this order be communicated to the Income-tax Appellate Tribunal, Patna Bench, Patna.