https://www.taxtmi.com/caselaws?id=204877 The ITAT dismissed the Revenue's appeal against the CIT(A)'s order canceling the penalty imposed under section 221(1) of the IT Act for the assessment year 2006-07. The ITAT found that the penalty was unjustified due to the Assessing Officer's failure to provide a hearing, the good reasons for the default, and the pending appeal that could impact the demand amount. The decision emphasized the valid reasons for non-levy of the penalty. en-us Fri, 29 Jan 2010 00:00:00 +0530 Mon, 08 Aug 2011 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204877 The ITAT dismissed the Revenue's appeal against the CIT(A)'s order canceling the penalty imposed under section 221(1) of the IT Act for the assessment year 2006-07. The ITAT found that the penalty was unjustified due to the Assessing Officer's failure to provide a hearing, the good reasons for the default, and the pending appeal that could impact the demand amount. The decision emphasized the valid reasons for non-levy of the penalty. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204877