https://www.taxtmi.com/caselaws?id=8598 A penalty provision that fixes a uniform monthly rate and only a ceiling on the total quantum must be applied as written, and an appellate authority cannot reduce the penalty below the statutory computation unless the statute expressly permits such relaxation. The appellate power to pass such orders as it thinks fit does not override the substantive limits built into the penalty provision. On that basis, reduction of the penalty to a nominal amount was held erroneous because the prescribed rate remained mandatory once penalty was imposed. en-us Thu, 08 Jul 1971 00:00:00 +0530 Tue, 05 May 2009 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8598 A penalty provision that fixes a uniform monthly rate and only a ceiling on the total quantum must be applied as written, and an appellate authority cannot reduce the penalty below the statutory computation unless the statute expressly permits such relaxation. The appellate power to pass such orders as it thinks fit does not override the substantive limits built into the penalty provision. On that basis, reduction of the penalty to a nominal amount was held erroneous because the prescribed rate remained mandatory once penalty was imposed. Case-Laws Income Tax Thu, 08 Jul 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8598