https://www.taxtmi.com/caselaws?id=378169 The rectification application seeking modification of the Tribunal's order dated 22nd September 2017, involving assessment of unexplained cash deposits and concealment penalty, was dismissed as time-barred. The Tribunal, while acknowledging its error highlighted by the High Court, was unable to rectify the order under section 254(2) due to legal constraints. The High Court disapproved of the Tribunal's approach in reducing the penalty, emphasizing the statutory provisions for minimum penalties under section 271. en-us Wed, 03 Apr 2019 00:00:00 +0530 Tue, 09 Apr 2019 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378169 The rectification application seeking modification of the Tribunal's order dated 22nd September 2017, involving assessment of unexplained cash deposits and concealment penalty, was dismissed as time-barred. The Tribunal, while acknowledging its error highlighted by the High Court, was unable to rectify the order under section 254(2) due to legal constraints. The High Court disapproved of the Tribunal's approach in reducing the penalty, emphasizing the statutory provisions for minimum penalties under section 271. Case-Laws Income Tax Wed, 03 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378169