2010 (4) TMI 44

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..... orters of local papers may be allowed to see the judgment? 2. To be referred to the Reporter or not? 3. Whether the judgment should be reported in Digest? BADAR DURREZ AHMED, J (ORAL) CM No.3837/2010 1. This appeal is delayed by 517 days. The issue that is involved in the present appeal relates to the question of imposition of penalty when the income determined is a loss. Initially, the Supr .....

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..... now taken by the Supreme Court was that when there was a loss return filed by the assessee and the Assessing Officer determined a loss, but at a reduced figure, the assessee would be liable for penalty under Section 271(1)(c) provided the conditions specified therein are satisfied. It is after the decision of the Supreme Court in Gold Coin Health Food (supra) that the department has woken up and h .....

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