- (1.) These appeals are by way of special leave granted by this court against the judgment and order of the Gauhati High court dated 16/07/1975
(2.) The Income Tax Appellate tribunal referred two questions to the high court under S. 256 (1 of the Income Tax Act, 1961 (hereinafter referred to as the Act). These questions-are: "(1 Whether on the facts and in the circumstances of the case, the tribunal was correct in holding that penalties under section 271 (l) (c) of the Income Tax Act read with Explanation to that section were justified in respect of the assessment years 1963-64, 1964- 65 and 1965-66 (2 Whether on the facts and in the circumstances of the case, the tribunal was justified in holding that for the purpose of calculation of penalties the difference between the tax on the incomes shown in the first returns and the tax on the incomes assessed shall be taken as the amount of tax that would have been avoided -
(3.) On a detailed discussion the High court answered both the questions against the assessee. Hence these appeals before this court.;