https://www.taxtmi.com/caselaws?id=256066 The Tribunal dismissed the Revenue's appeal against the penalty levy under section 271(1)(c) of the Income Tax Act for A.Y. 2002-03. It emphasized the significance of adhering to the monetary limits prescribed by the Board under section 268A and following the consistent interpretation of the law by the jurisdictional high court. The Tribunal clarified that the applicable monetary limit for an appeal is determined at the time of the appeal hearing, not when it was filed, based on Instructions issued by the Board and supported by judicial precedents. en-us Fri, 30 Jan 2015 00:00:00 +0530 Tue, 03 Feb 2015 06:02:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256066 The Tribunal dismissed the Revenue's appeal against the penalty levy under section 271(1)(c) of the Income Tax Act for A.Y. 2002-03. It emphasized the significance of adhering to the monetary limits prescribed by the Board under section 268A and following the consistent interpretation of the law by the jurisdictional high court. The Tribunal clarified that the applicable monetary limit for an appeal is determined at the time of the appeal hearing, not when it was filed, based on Instructions issued by the Board and supported by judicial precedents. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256066