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2008 (11) TMI 219
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.... Kavita Jha and Sandeep S. Karhail, Advocates, for the respondent. ORDER 1. Leave granted. 2. In these cases two questions arose for determination before the Tribunal. 3. The first question related to adjustment of unabsorbed depreciation resulting in negative income (loss) for which penalty was sought to be levied under section 271(1)(c) of the Income-tax Act, 1961 by the Department. ....
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