- (1.) THIS is an income-tax reference under S. 256(1) of the IT Act, 1961. In which the following questions have been referred to us for our opinion : " 1. Whether on the facts and in the circumstances of the case, the learned Tribunal was legally correct in holding that the penalty under S. 271(1)(c) passed by the IAC on 13th May, 1980, was invalid and hence not sustainable in law ? 2. Whether on the facts and in the circumstances of the case, the learned Tribunal was right in law in cancelling the penalty imposed by the IAC under S. 271(1)(c), IT Act?"
(2.) THE assessee is a HUF and the relevant asst. yr. is 1972-73. The present dispute relates to penalty, which has been imposed on the assessee. The IAC imposed penalty but his order was set aside by the Tribunal on the strength of judgments of this Court in CIT vs. Om Sons 1978 CTR (All) 407 : (1979) 116 ITR 215 (All) and CIT vs. Ram Lal Vohra (1981) 129 ITR 473 (All). The judgment of this Court in Om Sons case (supra) has been reversed by the Supreme Court in CIT vs. Dhadi Sahu (1992) 108 CTR (SC) 444 : (1993) 199 ITR 610 (SC). Hence the impugned order of Tribunal cannot be sustained and it is set aside. The matter is remanded back to the Tribunal to record a finding of fact as to whether there was concealment by the assessee and whether the requirement of S. 271(1)(c) of the IT Act has been compelled. The reference is disposed of accordingly.;