2003 (7) TMI 13

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..... g questions for the opinion of this court: "Whether, on the facts and in the circumstances of the case the Income-tax Appellate Tribunal was correct in upholding the levy of penalty under section 271(1)(c) of the Income-tax Act, 1961? Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in concluding that the assessment on the association of .....

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..... section 271(1)(c) was initiated and penalty of Rs. 16,500 has been imposed. In appeal the Deputy Commissioner (Appeals) has confirmed the penalty. In appeal before the Tribunal, the Tribunal also confirmed the penalty imposed by the Assessing Officer. The Tribunal while following the order in the case of the same assessee, for the assessment years 1970-71 and 1971-72 confirmed the penalty impos .....

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