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
short "the
Act") merely on the ground that the total income of the
assessee was assessed at a minus figure/loss. Tribunal had
allowed the assessee’s appeal remitting the penalty imposed by
the assessing officer under Section 271(1)(c) relating to the
assessment year 1996-97, relying upon the decision of the
Punjab High Court in CIT v. Prithipal
