JUDGMENT
1. We have seen the order of the Tribunal. We have also seen the application made by the Revenue under Section 27(1) and the order of the Tribunal rejecting that application. We are of the opinion that the following three questions of law, as suggested, do hereby arise out of the order of the Tribunal:
"1. Whether, on the facts/and in the circumstances of the case, the Income-tax Appellate Tribunal was justified, in law, in excusing the delay in filing the return for the assessment year 1972-73 when the application for extension of time was rejected by the Assessing Officer and the assessee was intimated accordingly ?
2. Whether, on the facts and in the circumstances of the case, the Tribunal was, in law, justified in directing to condone the period of delay for the penalty under Section 18(1)(a) for the assessment year 1973-74 from the date of the filing of the return for 1972 73 and for the penalty under Section 18(1)(a) for the assessment years 1974-75 to 1980-81 with effect from September 5, 1980, when the return for 1973-74 was filed ?
3. Whether, on the facts and in the circumstances of the case, the Tribunal was, in law, justified in cancelling the penalty for the assessment year 1972-73 and reducing the penalties for the assessment years 1973-74 to 1980-81, when there was no reasonable cause with the assessee ?"
2. The Tribunal is, accordingly, directed to state the aforesaid questions under Section 27(3) of the Wealth-tax Act and refer the same for the opinion of this court.
3. The application is thus allowed. No costs.