COMMISSIONER OF INCOME TAX Vs. PREMIER PROTEINS LTD

JUDGEMENT

(1.) THIS is an appeal filed by the CIT under Section 260a of the IT Act against an order dt. 26th Feb. , 1999, passed by the Tribunal in ITA No. 467/ind/1995. This appeal was admitted for final hearing on the following substantial question of law :

(2.) HEARD Shri R. L. Jain, learned senior counsel with Ku. Veena Mandlik for the appellant and Shri G. M. Chaphekar, learned senior counsel with Shri D. S. Kale for respondent.

(3.) THE question arises out of asst. yr. 1989-90. It relates to imposition of penalty on the assessee (a limited company) under Section 271 (1) (c) of the IT Act.