2001 (8) TMI 277 - ITAT CHANDIGARH-A

Extract:
.......1(1)(c). Having regard to these facts and circumstances of the case, we in the ultimate analysis, hold that the CIT (A) was justified in confirming the penalty of Rs.2,59,653 under section 271(1)(c). The order of the CIT (A) is accordingly upheld. All the grounds of appeal stand dismissed. 12. In the result, the appeal of the assessee is dismissed.