Judgment

SABYASACHI MUKHARJI, J. :- The assessee is in appeal by special leave challenging the decision of the Delhi High Court reported in (1973) 92 ITR 394.

2. The year of assessment is 1961-62. The return was due by September 28,1961, but the same was neither filed within that time, nor was any extension asked for. The assessee filed the return on May 3, 1962 - beyond more than seven months of the due date. With effect from April 1, 1962, the Income-tax Act of 1961 (1961 Act for short) had come into force. The Income-tax Officer took proceedings under section 271(1)(a) of the 1961 Act and imposed a penalty of Rs. 4,060/- for failure to furnish the return within the time on a finding that the assessee had not been prevented by any reasonable cause for not complying with the statutory obligation to make the return. The assessee challenged the imposition of penalty by preferring an appeal to the Appellate Assistant Commissioner who refused to interfere and dismissed the appeal. On further appeal, the Appellate Tribunal held that penalty was leviable under the 1961 Act but the amount of penalty had to be quantified according to the provisions of section 28 of the Income-tax Act, 1922