2008 (11) TMI 174

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..... ter allowing set off of carried forward losses of earlier years – SC uphold the levy of penalty. - 6438 of 2008 - - - Dated:- 3-11-2008 - S. H. KAPADIA and B. SUDERSHAN REDDY JJ. JUDGMENT The following question is proposed for admission of these appeals: 'Whether the Appellate Tribunal is right in law and on facts in cancelling the penalty levied under section 271(1) (c) of the Act on .....

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..... Das, Advocates, for the appellant. None appeared for the respondent. ORDER 1. Leave granted. 2. None appears for the respondent-assessee though served. 3. In view of the judgment of the larger Bench in CIT v. Gold Coin Health Food P. Ltd. [2008] 304 ITR 308 (SC) (Civil Appeal No. 5065 of 2008), decided on August 18, 2008, the appeal herein stands allowed in favour of the Dep .....

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