https://www.taxtmi.com/caselaws?id=208534 The Delhi High Court upheld the Tribunal's decision to delete the penalty imposed on an association of persons in penalty proceedings under Section 271(1)(c) of the Income Tax Act for the assessment years 2003-04 and 2004-05. The Court ruled that where two views are possible, a penalty cannot be imposed on the assessee, finding no substantial question of law warranting further consideration and dismissing the appeals. en-us Wed, 11 Jan 2012 00:00:00 +0530 Fri, 25 Jan 2013 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208534 The Delhi High Court upheld the Tribunal's decision to delete the penalty imposed on an association of persons in penalty proceedings under Section 271(1)(c) of the Income Tax Act for the assessment years 2003-04 and 2004-05. The Court ruled that where two views are possible, a penalty cannot be imposed on the assessee, finding no substantial question of law warranting further consideration and dismissing the appeals. Case-Laws Income Tax Wed, 11 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208534