The companymon question of law referred to the High Court for its decision under Section 256 1 of the Income Tax Act, 1961 was as under Whether on the facts and in the circumstances of the case the Tribunal was justified in law in upholding the order of the Appellate Assistant Commissioner cancelling the penalty orders of the Income tax Officer under Section 271 1 a of the Income Tax Act, 1961 relating to the assessment years 1963 64 and 1964 65 on the ground that the penalty orders were illegal and number according to law?
The assessee was a registered firm which companymitted default in submission of its return for the aforesaid assessment years, the delay being of 15 months in submission of its return for the aforesaid assessment years, the delay being of 15 months in submission of the return for the assessment year 1963 64 and of 23 months in submission of the return for the assessment year 1964 65.
17/1974 deciding a companymon question of law relating to assessment years 1963 64 and 1964 65.
These appeals by special leave under Article 136 of the Constitution are against the judgment of the Gauhati High Court dated June 22, 1976 in Income Tax Reference No.
The Income Tax Officer companyputed the penalty at the sum of Rs.
70,118/ respectively for these two years.
6,944/ and Rs.
The material facts are only a few.
