2001 (5) TMI 12

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....ection given by this court under section 256(2) of the Income-tax Act, 1961 (in short 'the Act"), the following question has been referred by the Income-tax Appellate Tribunal, Delhi Bench "A" (in short "the Tribunal"), for the opinion of this court: "Whether, on the facts and circumstances of the case, the Tribunal was justified in law in holding that the levy of penalty for concealment was co....

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....10,000. The said levy was confirmed by the Appellate Assistant Commissioner as well as by the Tribunal. The assessee moved an application under section 256(1) of the Act for reference of a question, stated to be a question of law. The same having been rejected by the Tribunal, this court was moved and pursuant to the directions given by this court, the question as set out above has been referred f....