https://www.taxtmi.com/caselaws?id=338326 The Tribunal upheld the Commissioner's decision to reduce the penalty under section 221(1) from 100% to 10% based on the assessee's financial constraints and efforts to fulfill the tax liability. The Tribunal found the Commissioner's order reasoned and did not see the need for further interference. Consequently, the appeal filed by the Revenue and the Cross Objection filed by the assessee were dismissed. en-us Wed, 23 Nov 2016 00:00:00 +0530 Wed, 01 Feb 2017 08:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338326 The Tribunal upheld the Commissioner's decision to reduce the penalty under section 221(1) from 100% to 10% based on the assessee's financial constraints and efforts to fulfill the tax liability. The Tribunal found the Commissioner's order reasoned and did not see the need for further interference. Consequently, the appeal filed by the Revenue and the Cross Objection filed by the assessee were dismissed. Case-Laws Income Tax Wed, 23 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338326