2015 (4) TMI 1184

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Section 271(1)(c) of the Income Tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal erred in law by considering extraneous factors as basis for surrender of income of ₹ 1,40,00,000/disregarding the fact that unaccounted closing stock of ₹ 1,40,00,000/was found during survey?” - INCOME TAX APPEAL NO. 46 OF 2013 - - - Dated:- 27-4-2015 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... f ₹ 1,40,00,000/in terms of statement made on 23.09.2006 finds mention. In this situation, admit on the following substantial questions of law : 1. Whether, on the facts and in the circumstances of the case, the Hon'ble ITAT erred in law by upholding the order of the CIT(A) deleting the penalty of ₹ 48,00,000/levied under Section 271(1)(c) of the Income Tax Act, 1961 ? 2. Wh .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X