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2006 (2) TMI 89 - HC - Income Tax
Levy of penalty under section 271(1)(c) - Whether Tribunal has any material to hold that the assessee in filing the revised return of income has not acted bona fide? and Whether Tribunal was correct in holding that the levy of penalty is justifiable merely for the reason that no reasons were furnished by the assessee for filing an upward revision of income in the revised return of income?" - We find no reason to interfere with the order of the Tribunal