2008 (3) TMI 9

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..... ion of law is apparent. - Appeal (civil) 1765 of 2008 - - - Dated:- 4-3-2008 - BENCH: S.H. KAPADIA B. SUDERSHAN REDDY JUDGMENT: Leave granted. The following substantial question of law arose for determination under Section 260-A of the Income Tax Act,1961. The said question reads as follows: "Whether on the facts and in the circumstances of the case Hon'ble High Court was rig .....

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..... vy under Section 234B - whether the levy is penal or mandatory. It has not considered the judgment of the Bombay High Court in the matter of CIT Vs. Kotak Mahindra, 265 ITR 119. The Civil Appeal is allowed and the impugned judgment is set aside with the direction to the High Court to consider the above question in accordance with law. Accordingly, Income Tax Appeal filed before the High Court .....

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