https://www.taxtmi.com/caselaws?id=120937 The tribunal dismissed the revenue's appeals regarding the imposition of penalties under sections 271(1)(c), 271(1)(a), and 273 of the Income-tax Act, 1961. The penalties were deleted based on the void ab initio nature of the reassessment proceedings, following references to relevant court decisions. The tribunal emphasized that penalties should not be imposed automatically but must be based on deliberate acts of concealment or furnishing inaccurate particulars. As a result, all appeals by the revenue were rejected. en-us Fri, 05 Oct 2007 00:00:00 +0530 Wed, 25 Jul 2012 15:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120937 The tribunal dismissed the revenue's appeals regarding the imposition of penalties under sections 271(1)(c), 271(1)(a), and 273 of the Income-tax Act, 1961. The penalties were deleted based on the void ab initio nature of the reassessment proceedings, following references to relevant court decisions. The tribunal emphasized that penalties should not be imposed automatically but must be based on deliberate acts of concealment or furnishing inaccurate particulars. As a result, all appeals by the revenue were rejected. Case-Laws Income Tax Fri, 05 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120937