https://www.taxtmi.com/caselaws?id=347895 The Tribunal dismissed the appeals, upholding the application of sections 201(1) and 201(1A) of the Income Tax Act. The Tribunal emphasized that equity and taxation are distinct and refused to grant relief beyond recalculating the penalty and interest. The appellant's arguments regarding no revenue loss and genuine errors were deemed inadequate to overturn the decisions. The Tribunal found no grounds to interfere with the Commissioner's orders, affirming the recalculated penalty and interest. en-us Tue, 29 Aug 2017 00:00:00 +0530 Tue, 12 Sep 2017 07:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347895 The Tribunal dismissed the appeals, upholding the application of sections 201(1) and 201(1A) of the Income Tax Act. The Tribunal emphasized that equity and taxation are distinct and refused to grant relief beyond recalculating the penalty and interest. The appellant's arguments regarding no revenue loss and genuine errors were deemed inadequate to overturn the decisions. The Tribunal found no grounds to interfere with the Commissioner's orders, affirming the recalculated penalty and interest. Case-Laws Income Tax Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347895