Law: Income Tax Act, 1922

Section: 66(2),26A,46,46(1),33A,66(1),45,46,220,2 20(6)

Income-tax Act, 1922 -- Sections 33, 46(1), 47 --Penalty -- Penalty imposed by Income-tax Officer for non-payment of tax -- Whether such order amenable to modification or correction by superior administrative authorities -- Held yes -- Penalty order passed by Income-tax Officer modified or amended by superior authorities -- Initial order of Income-tax Officer whether merged in the order passed by superior authorities -- Held yes -- Powers of superior authorities -- Whether concurrent with the power of Income-tax Officer -- Held yes --Penalty -- Default in payment of tax -- Demand not paid inspite of installments granted by superior authorities -- Appeal against order of assessment pending decision -- Default in payment of tax, whether technical -- Held yes -- Whether every technical default must be visited with Penalty -- Held no -- Discretion -- Whether discretion vested in Income-tax Officer to impose penalty should be exercised taking into account surrounding circumstances -- Held yes -- Word "may", meaning of -- Penalty -- Proceedings for imposition of Penalty -- Whether judicial in nature -- Held yes -- Satisfaction of Income-tax authorities that the default was deliberate, justifiability of the demand, likelihood of interference by Appellate authorities, financial conditions of the assessee and other reasons which might lead to commission of the default -- Whether should be looked into in imposition of penalty -- Held yes -- Penalty -- Default in payment of tax -- Appeal against order of assessment pending decision -- Whether within the scope of discretion of Income-tax Officer to soften the mode of payment pending the appeal -- Held yes -- Appellate Tribunal -- Whether competent to stay recovery proceedings during pendency of appeal -- Held yes -- Penalty -- Penalty imposed for non-payment of tax -- Taking into the benefits of installments, adjustment of refund of super Tax against the installments the assessee was found not to be in default when penalty was imposed -- Order of penalty whether sustainable -- Held no -- Penalty -- Proceedings for imposition of penalty -- Judicial proceedings in nature -- Circumstances to be taken into consideration for…

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