2000 (2) TMI 43

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..... tion 271B of the Income-tax Act, 1961. The Tribunal has deleted the penalty. Hence, the Commissioner of Income-tax has come by way of appeal. The facts giving rise to this appeal, briefly, are as follows : The assessee is a partnership firm engaged in the agency business of advertising on Doordarshan and A.I.R. During the assessment year in question, it acted as an agent between the principal, on .....

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..... Tribunal, after considering the terms and conditions of the contracts between the media like Doordarshan, on the one hand, and the customers of the assessee, on the other hand, came to the conclusion that for the purposes of audit under section 44AB, the entire amount of the total transaction cannot be treated as the receipt accruing to the assessee. The Tribunal found that the assessee was only .....

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