- (1.) THE Tribunal has referred the following question of law arising out of its order dt. 2nd Aug., 1982, in respect of the asst. year 1977 -78 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the penalty of Rs. 4,880 levied under S. 271(1)(a) of the IT Act, 1961 -
(2.) THE brief facts of the case are that the ITO, Sawaimadhopur, issued a notice to the assessee under S. 274 read with S. 271 as to why penalty be not imposed for not filing the return of income. Since no reply was filed, a penalty of Rs. 4,850 on the basis of delay in filing the return by 33 months was levied.
(3.) IN appeal, before the AAC, it was submitted that there was amalgamation of the assessee -firm with that of M/s Jagdish Prasad Contractor and the finalisation of the accounts could not be completed in time. The explanation submitted by the assessee was not found satisfactory and the appeal was rejected. In the second appeal preferred to the Tribunal it was contended that since the amount of tax was paid by way of advance tax or deduction at source, no penalty was leviable.;