CIT Vs. AKHILESH CHANDRA AGRAWAL

JUDGEMENT

(1.) The Income Tax Appellate Tribunal, Allahabad has referred the following questions of law under Section 256(2) of the Income Tax Act, 1961 ('the Act'), for opinion to this Court,-

(2.) The reference relates to assessment year 1991-92.

(3.) Penalty of Rs. 32,730 was imposed by the assessing officer under Section 271B of the Income Tax Act, 1961, which was cancelled during first appeal.