2008 (8) TMI 1055

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....an Bhatia, Advocate. ORDER 1. This appeal arises from the Tribunal's order dated 14.12.2006 wherein the Tribunal had relied on the decision of this Court in CIT v. Ram Commercial Enterprises: 246 ITR 568 and held that imposition of penalty under section 271(1)(c) of the Income Tax Act, 1961 (hereinafter to be referred as 'the Act') was bad in law in view of the fact that there was no satisfa....