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2002 (5) TMI 39 - HC - Income Tax
Extract:
.......hereto in our opinion, is necessary. The Tribunal was perfectly justified in upholding the levy of penalty under section 271(1)(c) of the Act. Accordingly, question of law reframed is answered in the negative, i.e., against the appellants/assessees and in favour of the Revenue. In the result, all the appeals are dismissed with no order as to costs.