Om Prakash, J.:— These are applications relating to the assessment years 1975-76 and 1976-77 by the assessee-applicant.
2. Upon perusal of the orders of the Tribunal, we are of the view that the following common question of law arises from the Tribunal's order in both the applications:
“(i) Whether, on the facts and circumstances of the case, the income-tax authorities and the Tribunal were right in holding that the penalty under section 18(1)(c) of the Wealth-tax Act, 1957, was leviable on the assessee?”
3. The Appellate Tribunal is, therefore, directed to draw up a statement of case and refer the aforesaid common question of law for the opinion of this court.
4. Both the applications are partly allowed.