DCIT, C.C.XXVII, KOLKATA, KOLKATA vs. M/S. PRATAP PROPERTIES LTD., KOLKATA

Accordingly, the grounds raised by the revenue for all the assessment years are dismissed

Bench: Hon. Sri Mahavir Singh & Hon. Sri M.Balaganesh

penalty proceedings u/s 274 read with section 271(1)(c ) of the Act or from the assessment order. In response to this, the Learned DR relied on the provisions of Section 271(1B) of the Act which is introduced with retrospective effect from 1.4.1989. He relied on various case laws in support of his various contentions stated supra