Law: Income Tax Act, 1922

Section: 46,66(1)

(a) Income-to Act (XI of 1922)---S. 46(i)-Order imposing penalty under S. 46(1) made during con­tinuance of valid stay order, held, to be bared on misreading of record or non-consideration of record or was otherwise without any basis or based upon view of facts which could not reasonably be entertained. (b) Income-tax Act (XI of 1922)- S. 66(1)--High Court cannot distorts finding of facts even on ground that there was no evidence the support unless it has been first expressly challenged by question raised in reference under S. 66(1). Law and Practice of Income-tax by Kanga and Pakhivala 7th Edn, p 1159 ; In4an Crescent Ltd. v. C.1. T. 6D I T R 52 (S C) ; Hazarat Pir Muhammad Shah Saheb Ruza Committee v. C. L T. 63 1 T R 494D (S C); C. I. T. v. Meenakshi Mills Ltd 63 I T R 609 (S.C) ; C.1. T. v. Creaves Cotton & Co. Ltd. 68 I T R 2D0 (S C) ; C. I. T. v. Madan Gopal Sadhey Lal 73 I T R 652 (S C); Hooghly Trust Ltd. v. C.1. T.'73 I T R 685 (S C); L. I. T. v. Imperial Chemical Indurtries (India) Ltd. 74 I T R 17 (S C); Aluminium Corpn. of India Ltd. v. C.1. T. 86 I T R I 1 (S C) ; C. I. T. v: Pannalal Narottamdas 67 I T R 667 ; C. F Star Co. Ltd v. G.1. T. .75 I T R 179 (S C) ; C.1. T. v. Rajasthan Mmes Ltd 78 I T R 45 Sarojini Rajah v. C. I. T. 711 T R 504; Gangamirthammal & Co. v. C. I. Tip 74 I T R 473; Satya Vijay Patel Dharamshala Trust v. C. I. T. 88 Is T R 683.; Sivakanmi Trust v. C. I. T. 88 I T R 311; Jaipur Mental & Electrical Ltd v. C. 1.T. 97 I T R 721 ; Sarijini Rajah v. Commissioner of Income-tax, Madras 71 I T R 504 and Griffiths v.I. E. Barrison Watford Ltd. (1965) 58 I T R 328 (P C) ref. JUDGMENT NAIMUDDIN, J. -By this reference under section 66(1) of the Income-tax Act, 1922 (hereinafter called the Act) and in Income Tax Reference No. 471 of 1972 and 472 of 1972, the following question of law has been referred to this Court on substantially identical facts but in respect of different assess6ent years, for answer. "Whether on the facts and in the circumstances of the case the Tribunal was justified in setting aside the penalty imposed, on 19-2-1971, under section 46(1) of the Income-tax Act. 2. The facts giving rise to the references,…

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