2012 (11) TMI 399

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....ER : A.K. Garodia, Accountant Member   This is an assessee's appeal directed against the order of ld. CIT(A), Gandhinagar dated 05.02.2010 for assessment year 2001-02. 2. The only grievance of the assessee is regarding penalty imposed by the A.O. of Rs.5,50,485/- u/s 271(1)(c) of the I.T. Act which was confirmed by ld. CIT(A). 3. It was submitted by ld. A.R. of the assessee that in q....