Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2008 (11) TMI 174 - SC ORDER
Penalty – concealment of income – tribunal cancelled the penalty levied under section 271(1) (c) of the Act on the ground that there was loss assessed in the year under consideration – where facts was that there was positive income which was reduced to nil only after allowing set off of carried forward losses of earlier years – SC uphold the levy of penalty.