https://www.taxtmi.com/caselaws?id=32543 The Supreme Court found that the High Court had erred in not addressing a crucial question of law under section 260A of the Income Tax Act, 1961, regarding the cancellation of penalties under sections 271(1)(a) and 273(2)(a) due to the benefits under the Amnesty Scheme. The Court emphasized the need for the High Court to reexamine the case considering the revisions made to the returns post a search operation. Consequently, the Supreme Court set aside the High Court's order and remitted the matters back for fresh consideration, leading to the restoration of the Tax Appeal Nos. 281-288 of 2005 to the High Court for reevaluation. en-us Tue, 12 Feb 2008 00:00:00 +0530 Fri, 06 Mar 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32543 The Supreme Court found that the High Court had erred in not addressing a crucial question of law under section 260A of the Income Tax Act, 1961, regarding the cancellation of penalties under sections 271(1)(a) and 273(2)(a) due to the benefits under the Amnesty Scheme. The Court emphasized the need for the High Court to reexamine the case considering the revisions made to the returns post a search operation. Consequently, the Supreme Court set aside the High Court's order and remitted the matters back for fresh consideration, leading to the restoration of the Tax Appeal Nos. 281-288 of 2005 to the High Court for reevaluation. Case-Laws Income Tax Tue, 12 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32543