( 1 ) THIS is a reference under the provisions of section 66 (1) of the Income-tax Act made by the income-tax Appellate Tribunal, Hyderabad Bench, on an application made by an assessment years.

( 2 ) IN respect of income of the assessee during the four assessment years to which this reference relates, viz. , 1951-52, 1952-53, 1953-54, and 1954-55, the assessee committed default in furnishing its return, although called upon to do so by a notice issued to it under the provisions of section 22 (4) of the Act. After the Income-tax Officer completed his assessment under section 23 (4) of the Act, he issued a notice to the assessee why penalties should not be imposed on it under the provisions of sections 28 (1) (a) and 28 (1) (b) of the Act for failure to furnish the return under section 22 (2) and for failure to produce the accounts as required by the notice issued under section 22 (4) of the Act. After hearing the assessee, the Income-tax Officer imposed penalties under both those clauses of sub-section (1) of section 28 of the Act, amounting in the aggregate to a sum of Rs. 15,278. The Income-tax Officer did not however quantify the penalties imposed under those t