IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH 'B', PUNE
BEFORE SHRI G.S. PANNU, A.M. AND SHRI R.S. PADVEKAR, J.M.
M/s. Marigold Premises (P) Ltd. v. DCIT
ITA No. 1035/PN/2012
Assessment Year: 2003-04
Date of Pronouncement: 28 August, 2014
Appellant by: Shri Dharmesh Shah/Shri Kulin Mehta
Respondent by: Shri A.K. Modi
R.S. Padvekar, J.M.
In this appeal, the assessee has challenged the impugned order of the learned Commissioner (Appeals)-Central, Pune dated 20-3-2012 for the assessment year 2003-04 in which the penalty levied by the assessing officer under section 271(1)(c) has been confirmed. The assessee has taken the multiple grounds but the issue which arises for our consideration is whether the learned Commissioner (Appeals) justified in confirming the penalty levied by the assessing officer to the extent of Rs. 26,56,333 under section 271(1)(c) of the Act?