2012 (11) TMI 1153

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....Per sushma Chowla, J.M,: The appeal filed by the assessee is against the order of the Commissioner of income-Tax (Appeals), Rohtak dated 16.3.2012 relating to assessment year 2006-07 against the penalty levied u/s 272B of the Income Tax act, 1961 (in short 'The act') 2. The assessee has raised th folloeing grounds of appeal: "1. The learned commissioner of income Tax (Appeal) Rohtak has erred i....

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....tement was filed by the assessee in this regard. The assessing Officer held the assessee to be liable to penalty under section 272B of the Act and imposed penalty of ₹ 60,000/- The CIT (Appeals) upheld the same. 4.The assessee is in appeal against the said order of the CIT (Appeals) 5. The issue raised in the present appeal is in relation to levy of penalty under section 272B of the Act fo....