- (1.) This appeal by the Revenue is by a certificate granted by the High court. The question of law referred to the High court for its decision was as under: "Whether on the facts and in the circumstances of the case, the tribunal was right in holding that Section 17 (l) (a) of the Gift Tax Act, 1958, as amended by the Gift Tax Amendment Act, 1962, would not apply to the levy of penalty in this case
(2.) The High court answered the question against the Revenue and in favour of the assessee. This has given rise to the present appeal
(3.) The material facts are only a few. The last date for filing the return under the Gift Tax Act by the assessee was 30/6/1962. The assessee filed the return on 22/10/1963. The assessment was completed on 31/3/1964 and a notice was issued to the assessee to show cause why penalty should not be imposed in terms of Section 17 (l) (a) of the Act for failure to file the return within the prescribed period. The assessee gave the reply on 29/4/1964. The Gift Tax Officer imposed a penalty of Rs. 2,605. 00, which was reduced on appeal by the Commissioner to rs 1000. Thereafter the tribunal took the view that the question of imposition of penalty in this case will be governed by the provision in Section 17 (l) (a) of the act as it stood prior to its amendment w. e. f. 1/4/1963, under which there was norequirement to impose a minimum penalty as prescribed by the amendment. The tribunal's order, therefore, gave rise to the aforesaid question of law which requires the decision on the point whether the amendment made w. e. f. 1/4/1963 in Section 17 (l) (a) prescribing a more harsh penalty, is attracted in the present case;