2007 (9) TMI 630

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..... is aggrieved by an order dated 4-8-2006 passed by the Income-tax Appellate Tribunal, Delhi Bench D ( Tribunal ) in ITA Nos. 2945 2946/Delhi/2005 relevant for the assessment years 2000-01 and 2001-02. 2. The issue that arises in this case concerns the levy of penalty on the assessee under section 271C of the Income-tax Act, 1961. 3. The assessee had made certain payments for fabrication .....

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..... ecause the assessee had deposited two cheques of ₹ 4 lakhs and ₹ 3.4 lakhs during the survey proceedings. The Tribunal concluded on these facts that the assessee was not avoiding its liability and had co-operated with the revenue in the payment of tax. It also held that the assessee had not been correctly advised by its chartered accountant in regard to its liability. 6. We may note .....

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