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of <h1>High Court directs Tribunal to consider penalty under Income-tax Act</h1> The High Court of Punjab and Haryana ruled in favor of the revenue in a reference under section 256(1) of the Income-tax Act, 1961, directing the Tribunal ... Feasibility of imposing a penalty - in the case of a Central Minister, in similar circumstances, the penalty was waived - no reason why a citizen should be treated differently than a Minister - Tribunal is directed to examine the feasibility of imposing a penalty after examining the merits of the case The High Court of Punjab and Haryana ruled in favor of the revenue in a reference under section 256(1) of the Income-tax Act, 1961, citing the Supreme Court decision in Jain Brothers v. Union of India. The Court directed the Tribunal to consider imposing a penalty after evaluating the case's merits, noting that a penalty was waived for a Central Minister in a similar situation. No costs were awarded.
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