https://www.taxtmi.com/caselaws?id=303186 Where the statute defines "Joint Commissioner" to include an Additional Commissioner, prior approval by an Additional Commissioner satisfies the approval requirement for penalty proceedings under the Income-tax Act. The commentary also notes that a CBDT low-tax-effect circular does not bar the Revenue's appeal where the dispute concerns the full penalty amount and does not fall within the circular's monetary limits. The operative effect is that penalty approval granted by an Additional Commissioner is valid, and the low-tax-effect policy cannot be invoked to defeat the appeal in such circumstances. 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 Where the statute defines "Joint Commissioner" to include an Additional Commissioner, prior approval by an Additional Commissioner satisfies the approval requirement for penalty proceedings under the Income-tax Act. The commentary also notes that a CBDT low-tax-effect circular does not bar the Revenue's appeal where the dispute concerns the full penalty amount and does not fall within the circular's monetary limits. The operative effect is that penalty approval granted by an Additional Commissioner is valid, and the low-tax-effect policy cannot be invoked to defeat the appeal in such circumstances. Case-Laws Income Tax Tue, 29 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303186