https://www.taxtmi.com/caselaws?id=38657 The High Court of GAUHATI upheld the cancellation of penalty orders under section 271(1)(a) of the Income-tax Act for assessment years 1963-64 and 1964-65. The penalties imposed by the Income-tax Officer were deemed incorrect as they did not adhere to statutory provisions, resulting in lower penalty amounts than required by law. The Tribunal, unable to enhance penalties, upheld the cancellation by the Appellate Assistant Commissioner, emphasizing the importance of penalties being within statutory limits. The Court affirmed the Tribunal's decision, ruling in favor of the assessee and highlighting the necessity of penalty orders complying with the law. en-us Tue, 22 Jun 1976 00:00:00 +0530 Thu, 08 Apr 2010 10:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38657 The High Court of GAUHATI upheld the cancellation of penalty orders under section 271(1)(a) of the Income-tax Act for assessment years 1963-64 and 1964-65. The penalties imposed by the Income-tax Officer were deemed incorrect as they did not adhere to statutory provisions, resulting in lower penalty amounts than required by law. The Tribunal, unable to enhance penalties, upheld the cancellation by the Appellate Assistant Commissioner, emphasizing the importance of penalties being within statutory limits. The Court affirmed the Tribunal's decision, ruling in favor of the assessee and highlighting the necessity of penalty orders complying with the law. Case-Laws Income Tax Tue, 22 Jun 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38657