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1997 (2) TMI 163 - AT - Income Tax
Extract:
.......g that the conditions as laid down in section stand fulfilled. Accordingly in our considered view penalties levied under section 201(1) of the Act for all the years cannot be upheld. 8. In view of above, we would also delete the interest leviable under section 201 A of the Act. 9. In the result, all the 18 appeals filed by the assessee are allowed.