https://www.taxtmi.com/caselaws?id=15595 The High Court addressed the incorrect application of the law by the Tribunal in interpreting section 271(1)(c) of the Income-tax Act. The case involved discrepancies in claimed depreciation amounts by the assessee, leading to understatement of income. The High Court found a question of law arising from the Tribunal's order due to the omission of the relevant Explanation to section 271(1)(c) from April 1, 1976. The Court emphasized the importance of legal interpretation in penalty imposition under section 271(1)(c) for the assessment year in question. en-us Tue, 03 Aug 1999 00:00:00 +0530 Wed, 26 Aug 2009 12:32:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15595 The High Court addressed the incorrect application of the law by the Tribunal in interpreting section 271(1)(c) of the Income-tax Act. The case involved discrepancies in claimed depreciation amounts by the assessee, leading to understatement of income. The High Court found a question of law arising from the Tribunal's order due to the omission of the relevant Explanation to section 271(1)(c) from April 1, 1976. The Court emphasized the importance of legal interpretation in penalty imposition under section 271(1)(c) for the assessment year in question. Case-Laws Income Tax Tue, 03 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15595