https://www.taxtmi.com/caselaws?id=64101 The Tribunal held that the CIT cannot direct the ITO to initiate penalty proceedings under s. 273 but can direct the consideration of interest under s. 217(1A). The Tribunal emphasized the independence of penalty proceedings from assessment proceedings, citing Supreme Court precedent. The appeal was allowed in part, canceling the direction to initiate penalty proceedings but upholding the direction to consider interest. en-us Mon, 02 Feb 1976 00:00:00 +0530 Thu, 03 Feb 2011 18:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64101 The Tribunal held that the CIT cannot direct the ITO to initiate penalty proceedings under s. 273 but can direct the consideration of interest under s. 217(1A). The Tribunal emphasized the independence of penalty proceedings from assessment proceedings, citing Supreme Court precedent. The appeal was allowed in part, canceling the direction to initiate penalty proceedings but upholding the direction to consider interest. Case-Laws Income Tax Mon, 02 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64101