https://www.taxtmi.com/caselaws?id=303186 The High Court upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, ruling in favor of the Revenue and dismissing the assessee's appeal. The Court clarified that approval for the penalty from the Addl. Commissioner of Income Tax was valid under section 274(2)(b), rejecting the argument that approval had to come from the Joint Commissioner. The Court also determined that Circular No.21/2015 did not apply in this case due to exceeding the penalty threshold mentioned in the circular. Ultimately, the Court found no merit in the assessee's contentions and upheld the penalty. en-us Tue, 29 Mar 2016 00:00:00 +0530 Thu, 07 Jul 2022 21:22:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303186 The High Court upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, ruling in favor of the Revenue and dismissing the assessee's appeal. The Court clarified that approval for the penalty from the Addl. Commissioner of Income Tax was valid under section 274(2)(b), rejecting the argument that approval had to come from the Joint Commissioner. The Court also determined that Circular No.21/2015 did not apply in this case due to exceeding the penalty threshold mentioned in the circular. Ultimately, the Court found no merit in the assessee's contentions and upheld the penalty. Case-Laws Income Tax Tue, 29 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303186