https://www.taxtmi.com/caselaws?id=373440 The High Court declined to interfere with the Tribunal's order allowing rectification, noting the lack of thorough examination in the initial penalty appeal decision. The Court emphasized that penalties can be imposed despite reduced losses, citing relevant case law. The petitioner was permitted to pursue the appeal before the Tribunal on all grounds and raise defenses against the penalty imposition. The petition was disposed of accordingly. en-us Thu, 03 Jan 2019 00:00:00 +0530 Sat, 12 Jan 2019 07:02:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373440 The High Court declined to interfere with the Tribunal's order allowing rectification, noting the lack of thorough examination in the initial penalty appeal decision. The Court emphasized that penalties can be imposed despite reduced losses, citing relevant case law. The petitioner was permitted to pursue the appeal before the Tribunal on all grounds and raise defenses against the penalty imposition. The petition was disposed of accordingly. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373440