https://www.taxtmi.com/caselaws?id=278269 The Tribunal upheld the CIT(A)'s decision to reduce the penalty from 30% to 10% under section 271AAB(1)(a), finding that the assessee met the necessary conditions. The Tribunal also confirmed the CIT(A)'s jurisdiction to modify the penalty under section 271AAB, emphasizing that the provisions of section 271AAB(1)(a) and 271AAB(1)(c) pertain to the same charge but differ in the quantum of penalty based on specific conditions. The Tribunal dismissed the appeals of both the revenue and the assessee, affirming the CIT(A)'s order. en-us Mon, 27 Nov 2017 00:00:00 +0530 Tue, 22 Jan 2019 07:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278269 The Tribunal upheld the CIT(A)'s decision to reduce the penalty from 30% to 10% under section 271AAB(1)(a), finding that the assessee met the necessary conditions. The Tribunal also confirmed the CIT(A)'s jurisdiction to modify the penalty under section 271AAB, emphasizing that the provisions of section 271AAB(1)(a) and 271AAB(1)(c) pertain to the same charge but differ in the quantum of penalty based on specific conditions. The Tribunal dismissed the appeals of both the revenue and the assessee, affirming the CIT(A)'s order. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278269