2020 (2) TMI 970 - SCH - Income Tax

Rectification u/s 254 - purpose of initiating penalty proceedings under Section 271(1)(c) - recover the penalty amount from one of the directors of the Assessee the business of which was closed - HELD THAT - Special leave petition is dismissed. However, the question of law is left open.

Summary

The Supreme Court dismissed the special leave petition but left the question of law open. The delay was condoned, and any pending applications were disposed of.