https://www.taxtmi.com/caselaws?id=208012 The Tribunal set aside the CIT(A)'s order canceling the penalty imposed under section 271(1)(c) of the Income-tax Act and restored the penalty order passed by the Assessing Officer. However, the Tribunal directed the Assessing Officer to reconsider the penalty amount based on the assessed income of Rs. 9,90,994. The departmental appeal was allowed partly, with instructions for the penalty to be computed in accordance with the assessed income. en-us Fri, 31 Dec 2010 00:00:00 +0530 Wed, 23 Nov 2011 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208012 The Tribunal set aside the CIT(A)'s order canceling the penalty imposed under section 271(1)(c) of the Income-tax Act and restored the penalty order passed by the Assessing Officer. However, the Tribunal directed the Assessing Officer to reconsider the penalty amount based on the assessed income of Rs. 9,90,994. The departmental appeal was allowed partly, with instructions for the penalty to be computed in accordance with the assessed income. Case-Laws Income Tax Fri, 31 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208012