https://www.taxtmi.com/caselaws?id=21171 The court held that the Appellate Tribunal was justified in canceling the penalty levied on the respondent under section 271(1)(a) of the Income-tax Act for the year 1976-77. The Appellate Assistant Commissioner's power to set aside the penalty order and order a remit with directions under section 251(1)(b) of the Act in cases of penalties was found to be limited. The Tribunal's decision to delete the penalty was deemed valid, and both questions of law were answered in favor of the assessee. The income-tax reference was disposed of accordingly, with a copy of the judgment to be sent to the Income-tax Appellate Tribunal, Cochin Bench. en-us Fri, 05 Jun 1992 00:00:00 +0530 Fri, 20 Nov 2009 15:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21171 The court held that the Appellate Tribunal was justified in canceling the penalty levied on the respondent under section 271(1)(a) of the Income-tax Act for the year 1976-77. The Appellate Assistant Commissioner's power to set aside the penalty order and order a remit with directions under section 251(1)(b) of the Act in cases of penalties was found to be limited. The Tribunal's decision to delete the penalty was deemed valid, and both questions of law were answered in favor of the assessee. The income-tax reference was disposed of accordingly, with a copy of the judgment to be sent to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Fri, 05 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21171