2002 (7) TMI 19

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..... para. 4 of the application, which is said to be a question of law. - The dispute is regarding payments made to the assessee in instalments, by one Shri R.C. Khosla (promoter and managing director of the respondent-company), in the relevant assessment year, amounting to Rs. 2,31,390. – penalty imposed in contravention of section 269SS was vacated in second appeal by the Tribunal on the finding tha .....

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..... see in instalments, by one Shri R.C. Khosla, in the relevant assessment year, amounting to Rs. 2,31,390. Apparently, Shri Khosla was the promoter and managing director of the respondent-company. According to the assessing authority as also the Commissioner of Income-tax (Appeals), the said payment was in contravention of section 269SS of the Income-tax Act and the assessee was, therefore, liable t .....

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