https://www.taxtmi.com/caselaws?id=409606 The Appellate Tribunal dismissed the revenue's appeal against the penalty order under section 271(1)(c) of the Income Tax Act, 1961 for A.Y. 2009-10. The Tribunal held that the penalty imposed on an estimate/ad hoc basis was below the threshold set by CBDT Circular No. 17/2019, making the appeal not maintainable. It clarified the distinction between penalty and quantum proceedings, emphasizing adherence to the guidelines outlined in the circular. The appeal was dismissed due to the lower tax effect involved, as per the circular, highlighting the importance of following prescribed procedures in penalty imposition cases. en-us Tue, 29 Jun 2021 00:00:00 +0530 Tue, 13 Jul 2021 10:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409606 The Appellate Tribunal dismissed the revenue's appeal against the penalty order under section 271(1)(c) of the Income Tax Act, 1961 for A.Y. 2009-10. The Tribunal held that the penalty imposed on an estimate/ad hoc basis was below the threshold set by CBDT Circular No. 17/2019, making the appeal not maintainable. It clarified the distinction between penalty and quantum proceedings, emphasizing adherence to the guidelines outlined in the circular. The appeal was dismissed due to the lower tax effect involved, as per the circular, highlighting the importance of following prescribed procedures in penalty imposition cases. Case-Laws Income Tax Tue, 29 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409606