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1990 (7) TMI 1 - SC - Income Tax
Whether Tribunal was right in cancelling the penalty levied u/s 271 ( 1 ) (c) - Whether, having regard to the provisions of Explanation to section 271 (1) (c), the Appellate Tribunal's cancellation of penalty is sustainable in law and on the materials on record -Whether Tribunal's view that the addition of Rs. 18,750 did not represent the concealed income of the assessee is based on valid and relevant consideration and is a reasonable view to take on the facts of this case