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of <h1>Tribunal's Discretion on Income-tax Penalties Upheld</h1> <h3>Commissioner of Income-Tax, Mysore Versus SG Magavi</h3> Commissioner of Income-Tax, Mysore Versus SG Magavi - [1971] 81 ITR 475 (SC) The Supreme Court judgment in 1971 (1) TMI 18 stated that the Tribunal has discretion under section 271(1)(a) of the Income-tax Act to decide on levying penalties based on default or reasonable cause. The Court allowed the appeals in part, with no costs awarded.
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