2009 (2) TMI 81

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..... applies even to Assessment Years prior to 1st April 2003 – applying this ratio held that Tribunal was not right in deleting penalty levied under Section 271 (1)(c) - 570 of 1999 - - - Dated:- 10-2-2009 - D. A. MEHTA and S.R.BRAHMBHATT, JJ. Mr. K.M. Parikh for the Appellant. Mr. J.P. Shah for the Respondent. JUDGMENT JUSTICE D.A.MEHTA - At the time of admission on 6/9/2000, .....

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..... TH FOOD P.LTD, (2008) 304 ITR 308, where under, it has been stated that the amendment brought about by Finance Act 2002 is only clarificatory in nature and applies even to Assessment Years prior to 1st April 2003. Applying the ratio of the said decision to the facts of the case, it is held that, Income Tax Appellate Tribunal was not right in deleting penalty of Rs.4,00,000/- levied under Section .....

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