COMMISSIONER OF INCOME TAX Vs. FREEMENTLE INDIA TELEVISIO

JUDGEMENT

(1.) FOR the asst. yr. 1997 -98.

(2.) A penalty of Rs. 4,58,393 was levied against the assessee under s. 271(1)(c) of the IT Act, 1961. This has been set aside by the impugned order.

(3.) THE assessee produces TV serials and returned a total income of Rs. 15,60,920, which was assessed to Rs. 24,94,950 under s. 143(3) of the Act.