Bombay High Court Allows Revenue Appeal in Income Tax Block Assessment Penalty Case — Tribunal Erred in Deleting Penalty Under Section 158BFA(2) Despite Assessee's Appeal Against Assessment Order. Filing of appeal against assessment order precludes immunity from penalty under proviso to Section 158BFA(2) of Income Tax Act, 1961.
5 Apr 2010The Revenue appealed against the order of the Income Tax Appellate Tribunal which had deleted a penalty of Rs.42,90,000/- imposed under Section 158BFA...




