https://www.taxtmi.com/caselaws?id=57185 The Tribunal dismissed the Revenue's appeal against the deletion of a penalty imposed under section 271(1)(c) of the IT Act on a registered firm engaged in yarn trading. The Tribunal upheld the cancellation of the penalty by the Appellate Assistant Commissioner and declined the Department's reference application to the High Court, emphasizing that the issues were factual in nature and did not warrant legal review. The Tribunal's decision was based on established legal principles and factual findings, concluding that the questions raised did not require High Court opinion. en-us Mon, 20 Jan 1986 00:00:00 +0530 Wed, 08 Dec 2010 17:56:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57185 The Tribunal dismissed the Revenue's appeal against the deletion of a penalty imposed under section 271(1)(c) of the IT Act on a registered firm engaged in yarn trading. The Tribunal upheld the cancellation of the penalty by the Appellate Assistant Commissioner and declined the Department's reference application to the High Court, emphasizing that the issues were factual in nature and did not warrant legal review. The Tribunal's decision was based on established legal principles and factual findings, concluding that the questions raised did not require High Court opinion. Case-Laws Income Tax Mon, 20 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57185