https://www.taxtmi.com/caselaws?id=26503 The High Court remanded a case involving penalty imposition under section 271(1)(c) of the Income-tax Act back to the Tribunal for reconsideration. The Court considered the significant relief granted by the Appellate Tribunal, which reduced the gap between returned and assessed amounts below the 20% threshold. Acknowledging the changed dynamics, the Court emphasized the need for a fresh review by the Tribunal based on the revised figures, highlighting the importance of accurate assessments in determining penalty applicability. en-us Thu, 03 Oct 1985 00:00:00 +0530 Fri, 05 Feb 2010 14:42:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26503 The High Court remanded a case involving penalty imposition under section 271(1)(c) of the Income-tax Act back to the Tribunal for reconsideration. The Court considered the significant relief granted by the Appellate Tribunal, which reduced the gap between returned and assessed amounts below the 20% threshold. Acknowledging the changed dynamics, the Court emphasized the need for a fresh review by the Tribunal based on the revised figures, highlighting the importance of accurate assessments in determining penalty applicability. Case-Laws Income Tax Thu, 03 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26503