2015 (8) TMI 1564

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Tribunal misdirected itself in law and adopted a wholly erroneous approach in upholding the levy of penalty in the instant case, on the alleged ground that the Appellant Foundation had concealed its income and/or furnished inaccurate particulars of its income in respect of the assessment year 2011-12 ? Whether the Order passed by the Tribunal upholding the levy of penalty in the instant case .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... senior advocate for the appellant/assessee and Mr. Ghoshal, learned senior advocate for the respondent/revenue. The appeal is admitted on the following substantial questions of law: i. Whether on a correct interpretation of the provisions of section 271(1)(c) of the Income Tax Act, 1961 read with the Explanation 1 appearing thereunder, the Tribunal misdirected itself in law and adopted a wholl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X