https://www.taxtmi.com/caselaws?id=58417 The appellate tribunal partially allowed the appeal, reducing the penalty amount imposed under section 271(1)(c) for the assessment year 1969-70. The tribunal considered the assessee's conduct in rectifying the accounts as a mitigating factor and acknowledged the cooperation shown. While upholding the imposition of a penalty due to initial discrepancies in the accounts, the tribunal reduced the penalty considering the mitigating circumstances presented by the assessee. en-us Thu, 20 Apr 1978 00:00:00 +0530 Sat, 18 Dec 2010 18:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58417 The appellate tribunal partially allowed the appeal, reducing the penalty amount imposed under section 271(1)(c) for the assessment year 1969-70. The tribunal considered the assessee's conduct in rectifying the accounts as a mitigating factor and acknowledged the cooperation shown. While upholding the imposition of a penalty due to initial discrepancies in the accounts, the tribunal reduced the penalty considering the mitigating circumstances presented by the assessee. Case-Laws Income Tax Thu, 20 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58417