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Income Tax Appellate Tribunal, “E ” BENCH, MUMBAI
Before: SHRI RAJENDRA & SHRI C.N. PRASAD
आदेश / O R D E R
PER C.N. PRASAD, JM:
This appeal is filed by the assessee against the order of the Ld. CIT(A)-4, Mumbai dated 27.03.2015 pertaining to assessment year 1998-99.
The assessee has raised following grounds of appeal:
1) On levying of penalty u/s. 271(1)(c) of the I.T. Act, 1961. i) “On the facts and circumstances, the Ld. CIT(A) has erred in not dropping/deleting the penalty levied u/s. 271(1)(c) of the I.T. Act, 1961 for Rs. 17,32,500/- by the Ld. Assessing Officer. ii) The Learned Assessing Officer had totally ignored the relevant details, documents/ confirmations & necessary explanations.”