2015 (12) TMI 1181

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ) TMI 451 - CALCUTTA HIGH COURT] the manner in which the income was derived has also been disclosed and the assessee has thereafter paid the tax and the applicable interest, thus all the requirements of the clause were met by the assessee and, therefore, the correct view of the matter is taken in allowing the immunity and upholding the view of the CIT appeals and setting aside the order of penalty .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ction 271(1)(c) of the Income Tax Act, 1961 and thereby committed error in law in modifying the order of penalty of ₹ 4,17,926/- in relation to the Assessment Years 2003-04 and 2005-06? It is submitted by Mr. N. K. Poddar, learned senior advocate that the issue in question stands covered by the unreported judgments delivered on 11th January, 2013 in ITA 39 of 2010 [Commissioner of Incom .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X