https://www.taxtmi.com/caselaws?id=65142 CBDT circulars granting relief where assessed income fell below the specified monetary limit were treated as binding on the Income-tax Officer and enforceable in favour of the taxpayer. Because the assessed income was Rs. 8,640, the statutory penalty under section 271(1)(c) was considered unwarranted on the facts, and the penalty was deleted. en-us Tue, 31 Jan 1984 00:00:00 +0530 Sat, 12 Feb 2011 15:07:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65142 CBDT circulars granting relief where assessed income fell below the specified monetary limit were treated as binding on the Income-tax Officer and enforceable in favour of the taxpayer. Because the assessed income was Rs. 8,640, the statutory penalty under section 271(1)(c) was considered unwarranted on the facts, and the penalty was deleted. Case-Laws Income Tax Tue, 31 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65142