M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I
C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68
260A of the Act which was allowed by
the High Court by the impugned order.
The point involved before the High Court was, as to
whether penalty was leviable under Section 271 (1)(c)(iii) read
with Explanation 4 thereto which came on the statute book
w.e.f. 01.04.1976, in a case where the return filed was one of
loss
