2015 (7) TMI 952

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....ax Appellate Tribunal (ITAT) dated 29.09.2014 in ITA Nos.3536 & 5089/Del/2012. It urges that the direction to cancel the penalty - assessed to the tune of Rs. 76,70,966/- under Section 271(1) of the Income Tax Act was unjustified. The assessee a private company, is engaged in real estate development business. For AY 2008-09 and 2009-10 the assessment under Section 143(3) of the Act was framed and ....