https://www.taxtmi.com/caselaws?id=205319 The Tribunal ruled in favor of the appellant, a Credit Co-operative Society, in a case concerning penalty under Section 271E of the Income Tax Act. The Tribunal found that the tax authorities had acted arbitrarily and imposed penalties despite the appellant's bonafide belief and compliance efforts. Citing ignored advice against indiscriminate penalties, the Tribunal awarded costs of Rs. 5000 to the appellant under Section 254(2B) of the Act, to be paid by the Revenue within three months. The appeal was allowed, and the judgment was delivered on 8th June 2011. en-us Wed, 08 Jun 2011 00:00:00 +0530 Thu, 23 Jun 2011 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205319 The Tribunal ruled in favor of the appellant, a Credit Co-operative Society, in a case concerning penalty under Section 271E of the Income Tax Act. The Tribunal found that the tax authorities had acted arbitrarily and imposed penalties despite the appellant's bonafide belief and compliance efforts. Citing ignored advice against indiscriminate penalties, the Tribunal awarded costs of Rs. 5000 to the appellant under Section 254(2B) of the Act, to be paid by the Revenue within three months. The appeal was allowed, and the judgment was delivered on 8th June 2011. Case-Laws Income Tax Wed, 08 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205319