https://www.taxtmi.com/caselaws?id=251703 The appellant filed an appeal under Section 260A against the Tribunal's order for the assessment year 1996-97, questioning the surrender of an amount deposited by various parties. The Tribunal found the surrender was voluntary to avoid litigation, citing legal precedents. The penalty levy under Section 271(1)(c) was canceled as the surrender was made in good faith. The Tribunal favored the appellant, revoking the penalty based on leniency principles and CBDT Circular No. 451. The appeal was allowed, and the penalty was overturned. en-us Wed, 17 Sep 2014 00:00:00 +0530 Thu, 25 Sep 2014 09:15:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251703 The appellant filed an appeal under Section 260A against the Tribunal's order for the assessment year 1996-97, questioning the surrender of an amount deposited by various parties. The Tribunal found the surrender was voluntary to avoid litigation, citing legal precedents. The penalty levy under Section 271(1)(c) was canceled as the surrender was made in good faith. The Tribunal favored the appellant, revoking the penalty based on leniency principles and CBDT Circular No. 451. The appeal was allowed, and the penalty was overturned. Case-Laws Income Tax Wed, 17 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251703