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Union Of India (Uoi) And Anr. vs Aakar Advertising And Aakar ... on 23 April, 2008 cites

Dilip N. Shroff vs Joint Commissioner Of Income Tax, ... on 18 May, 2007

10. A look at the provisions of the section does show, that it does prescribe a minimum amount of penalty, by using the expression "not less than". Of course, the upper limit has also been prescribed therein. The question precisely is, as to whether the Tribunal, or the authority below, have any authority to impose a penalty, which is even less than the amount permissible to be imposed by Section 76. Learned Counsel for the assessee referred to the provisions of Section 80, and one judgment of Hon'ble the Supreme Court, in Dilip N.Shroff v. Joint Commissioner of Income Tax , and one judgment of Division Bench of this Court, in Union of India through Commissioner of Central Excise v. Dial and Travel reported in (2007) 208 CTR Reports-170, and contended, that when Section 80 provides that penalty shall not be imposable for any failures referred in Sections 76, 77 and 78, if the assessee proves, that there was reasonable cause for the said failure, which reasonably implies, that the authority can impose a penalty, less than the minimum prescribed in the two sections.
Supreme Court of India Cites 60 - Cited by 473 - S B Sinha - Full Document
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