https://www.taxtmi.com/caselaws?id=327354 The Tribunal partly allowed the assessee's appeal, directing a recomputation of the penalty by excluding Rs. 20,000 from each deposit. The revenue's appeal was dismissed due to the tax effect being below Rs. 10 lakhs, in line with the CBDT circular. The judgment stressed adherence to statutory provisions and consideration of precedents and circulars in penalty computations. en-us Thu, 24 Mar 2016 00:00:00 +0530 Mon, 09 May 2016 00:40:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327354 The Tribunal partly allowed the assessee's appeal, directing a recomputation of the penalty by excluding Rs. 20,000 from each deposit. The revenue's appeal was dismissed due to the tax effect being below Rs. 10 lakhs, in line with the CBDT circular. The judgment stressed adherence to statutory provisions and consideration of precedents and circulars in penalty computations. Case-Laws Income Tax Thu, 24 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327354