- (1.) Both these references can be disposed of by a common judgment. They arise out of the order of the Income Tax Appellate Tribunal in relation to the assessment year 1965-66, in the case of M/s, Qammar-ud-din and Sons, Delhi. One of the references, namely, I.T.R. No. 30/72, was made by the Tribunal under Section 256(1) of the I.T. Act, 1961 (" the Act " in short), referring the following question for the decision of this court : " Whether, on the facts and in the circumstances of the case, the return filed on 20-10-1965 could be held to be an invalid return by reason of the fact that it was not accompanied by the profit and loss account "
(2.) Subsequently, under Section 256(2) of the Act, this court directed the Tribunal to refer also the following question for decision : " Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that there was concealment of income by the assessed and that the penalty was validly imposed "
(3.) This is how these two references are before us.;