https://www.taxtmi.com/caselaws?id=325350 The Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) for the assessment year 2001-02. The decision was based on legal precedents and a CBDT circular, determining that penalties were not applicable if the tax payable under normal provisions was lower than that under section 115JB. The Tribunal upheld the total income declared under section 115JB as the final income. en-us Fri, 08 Jan 2016 00:00:00 +0530 Thu, 17 Mar 2016 10:12:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325350 The Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) for the assessment year 2001-02. The decision was based on legal precedents and a CBDT circular, determining that penalties were not applicable if the tax payable under normal provisions was lower than that under section 115JB. The Tribunal upheld the total income declared under section 115JB as the final income. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325350