Commr.Of Income Tax-Xviii,Delhi vs Bank Of Nova Scotia

The Supreme Court upheld the decision of the Income Tax Appellate Tribunal regarding the deletion of penalty under Section 271-C of the Income Tax Act, 1961, emphasizing that the Revenue failed to establish contumacious conduct on the part of the assessee. The Court found no substantial question of law arising from the case, affirming the lower authorities' assessments. Consequently, the appeal by the Revenue was dismissed, with no costs awarded.