https://www.taxtmi.com/caselaws?id=67279 The Tribunal ruled in favor of the assessee, canceling the penalty imposed by the Appellate Assistant Commissioner (AAC) based on the Circular of the Central Board of Direct Taxes (CBDT). The Circular prevented the application of the Explanation to section 271(1)(c) in cases where the assessed income did not exceed Rs. 10,000 due to specific additions, ultimately leading to the dismissal of the Income Tax Officer's appeal as well. en-us Wed, 18 Feb 1976 00:00:00 +0530 Wed, 09 Mar 2011 18:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67279 The Tribunal ruled in favor of the assessee, canceling the penalty imposed by the Appellate Assistant Commissioner (AAC) based on the Circular of the Central Board of Direct Taxes (CBDT). The Circular prevented the application of the Explanation to section 271(1)(c) in cases where the assessed income did not exceed Rs. 10,000 due to specific additions, ultimately leading to the dismissal of the Income Tax Officer's appeal as well. Case-Laws Income Tax Wed, 18 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67279