https://www.taxtmi.com/caselaws?id=17407 The Court upheld the Tribunal's decision to reduce the penalty below the minimum prescribed amount, emphasizing that the Tribunal's action was justified based on the facts of the case and applicable legal provisions. It concluded that a penalty of Rs. 2,000 was sufficient, considering the deletions made in the reassessment and the extension of the Pondicherry (Taxation Concessions) Order, 1964. The Court answered the referred questions in favor of the assessee, affirming the Tribunal's decision to levy a concessional penalty of Rs. 2,000. en-us Mon, 07 Oct 1996 00:00:00 +0530 Tue, 22 Sep 2009 12:23:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17407 The Court upheld the Tribunal's decision to reduce the penalty below the minimum prescribed amount, emphasizing that the Tribunal's action was justified based on the facts of the case and applicable legal provisions. It concluded that a penalty of Rs. 2,000 was sufficient, considering the deletions made in the reassessment and the extension of the Pondicherry (Taxation Concessions) Order, 1964. The Court answered the referred questions in favor of the assessee, affirming the Tribunal's decision to levy a concessional penalty of Rs. 2,000. Case-Laws Income Tax Mon, 07 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17407