COMMISSIONER OF INCOME TAX Vs. DODSAL LTD

JUDGEMENT

(1.) Admit on the following two questions :

(2.) C.I.T. by its order dated 15.10.2003 allowed the appeal preferred by the assessee and cancelled the penalty under Section 158BFA(2) of the Income Tax Act. While considering the deletion of penalty, C.I.T. considered, the explanation given by the assessee that tax had been paid on the undisclosed income before the completion of the assessment. Various other reasons have also been rendered.

(3.) In the present appeal, the findings of fact by I.T.A.T. and C.I.T. regarding reasons for delay in paying tax have not been assailed. The only question raised before us is whether the said provision is directory or mandatory. We have perused the relevant provision which read as under :