https://www.taxtmi.com/caselaws?id=23622 The High Court of Rajasthan dismissed the Revenue's application under section 256(2) of the Income-tax Act, 1961, regarding a penalty imposed on an assessee under section 140A(3) of the Act. The Tribunal had set aside the penalty, citing reasonable grounds for the late payment and finding no penalty was leviable. The High Court, in its advisory jurisdiction, upheld the Tribunal's decision, noting no grounds to question it. The Court emphasized it cannot evaluate the sufficiency of evidence considered by the Tribunal. Consequently, the High Court dismissed the application for reference, with each party bearing their own costs. en-us Wed, 24 Oct 1979 00:00:00 +0530 Tue, 22 Dec 2009 17:03:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23622 The High Court of Rajasthan dismissed the Revenue's application under section 256(2) of the Income-tax Act, 1961, regarding a penalty imposed on an assessee under section 140A(3) of the Act. The Tribunal had set aside the penalty, citing reasonable grounds for the late payment and finding no penalty was leviable. The High Court, in its advisory jurisdiction, upheld the Tribunal's decision, noting no grounds to question it. The Court emphasized it cannot evaluate the sufficiency of evidence considered by the Tribunal. Consequently, the High Court dismissed the application for reference, with each party bearing their own costs. Case-Laws Income Tax Wed, 24 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23622