It depends on which gasket is installed. Notched fiber gasket, the tab goes
toward flywheel. Holed metal gasket, toward the pulleys. Yes, they made them both
ways. The older engines used the fiber gaskets with notches like the previous
photo. Then the went to holes in the gasket and moved the tab to the opposite
side of the front galley:
http://www.partsplaceinc.com/uploads/images/products/large/16667f.jpg