2008 (7) TMI 345

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....In the present appeal filed under section 260A of the Income-tax Act, 1961, hereinafter referred to as "the Act"), the Revenue has raised the following questions said to be substantial questions of law, which arise out of the order of the Income-tax Appellate Tribunal, Allahabad, dated September 10, 2002. "1. Whether, on the facts and in the circumstances of the case, the Tribunal is justified ....

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....ants-in-aid in the form of entertainment tax rebate amounting to Rs. 5,11,127 which should be treated as revenue receipt which was accordingly added to income of the a The total income thus determined was at Rs. 56,690. The penalty proceeding under section 271(1)(c) of the Act was initiated and the assessing Officer imposed a penalty of Rs. 2,62,000. The penalty was deleted by the Commissioner of ....