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2002 (8) TMI 16
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....t of the court was delivered by N.N. MATHUR J. -The instant reference under section 256(1) of the Income-tax Act, 1961, has been made by the Income-tax Appellate Tribunal, Jaipur, seeking the opinion of this court on the following substantial question: "Whether, on the facts and circumstances of the case, the Tribunal was justified in upholding the levy of token penalty, below the minimum pr....
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....t source before making the payment of salaries to his employees and also deposited the same with the State Exchequer in time, yet he failed to file the return of such deductions. Thus, the Assessing Officer imposed penalty of Rs. 24,000 being the minimum under section 272A(2)(c) of the Act. In the first appeal, the Commissioner of Income-tax (Appeals) sustained a token penalty of Rs. 2,400. On ....