https://www.taxtmi.com/caselaws?id=243780 The Allahabad High Court dismissed the appeal challenging the Tribunal's decision to allow the assessee's appeal against a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Court upheld the monetary limit set by a circular, concluding that despite arguments to the contrary, the appeal could not be entertained due to the tax effect falling below Rs. 4 lakhs and the case falling within the scope of the circular. The Court emphasized that the concealment aspect was impacted by the lack of notice before the surrender or revised return, ultimately affirming the Tribunal's decision. en-us Wed, 05 Feb 2014 00:00:00 +0530 Mon, 10 Feb 2014 07:55:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243780 The Allahabad High Court dismissed the appeal challenging the Tribunal's decision to allow the assessee's appeal against a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Court upheld the monetary limit set by a circular, concluding that despite arguments to the contrary, the appeal could not be entertained due to the tax effect falling below Rs. 4 lakhs and the case falling within the scope of the circular. The Court emphasized that the concealment aspect was impacted by the lack of notice before the surrender or revised return, ultimately affirming the Tribunal's decision. Case-Laws Income Tax Wed, 05 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243780