2005 (3) TMI 74

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....lasubramanian J.- The Revenue has filed this appeal under section 260A of the Income-tax Act, 1961, against the order of the Income-tax Appellate Tribunal, in I.T.A. No. 2298/(Mds.) of 1991 dated November 25, 1999, and formulated the following question of law for consideration: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in conf....

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....r section 271A and 271(2)(a)(sic) of the Act and on this ground also, the levy of penalty under section 271B of the Act is not sustainable. Further on materials it is found by the Appellate Tribunal that the accounts of the assessee were audited in accordance with the provisions of the company law and to that extent, the assessee is protected by the provisions of section 44AB of the Act. The other....