( 1 ) THIS is a reference at the instance of the Revenue and the following two questions have been referred by the Tribunal for the opinion of this court arising out of the order of the Tribunal in I. T. A. No. 581 (Cal) of 1992 :"1. On the facts and in the circumstances of the case, whether the learned Tribunal was justified in law in setting aside the penalty order dated April 17, 1989, for an amount of Rs. 1 lakh imposed under Section 271b, on the ground that the show cause notice served on the assessee was invalid ?

( 2 ) WHETHER, on the facts and in the circumstances of the case, the learned Tribunal was justified in law in holding the view that the deficiencies in the show cause notice are not curable by the provisions of Section 292b of the Income-tax Act, 1961, and thereby holding the order of penalty invalid ?"2. The facts giving rise to the aforesaid two questions are that for the assessment year 1985-86, the Assessing Officer formed his opinion which is reflected in his order of assessment that tax audit report under the provisions of Section 44ab have not been filed within the prescribed time and directed that penalty proceedings under Section 271b of the Income-tax Act

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