https://www.taxtmi.com/caselaws?id=71939 The Tribunal reversed the CIT(A)'s decision to cancel the penalty under Section 271(1)(c) of the Income-tax Act, 1961, confirming that the penalty was applicable. It held that the original return filed by the assessee should be considered valid and that the introduction of Section 271AAA did not preclude penalties for returns filed under Section 153A before 01/06/2007. The Tribunal directed the CIT(A) to reassess the penalty appeals on their merits, thus allowing the Revenue's appeals for statistical purposes. en-us Fri, 25 Jan 2008 00:00:00 +0530 Fri, 19 Jan 2024 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71939 The Tribunal reversed the CIT(A)'s decision to cancel the penalty under Section 271(1)(c) of the Income-tax Act, 1961, confirming that the penalty was applicable. It held that the original return filed by the assessee should be considered valid and that the introduction of Section 271AAA did not preclude penalties for returns filed under Section 153A before 01/06/2007. The Tribunal directed the CIT(A) to reassess the penalty appeals on their merits, thus allowing the Revenue's appeals for statistical purposes. Case-Laws Income Tax Fri, 25 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71939