https://www.taxtmi.com/caselaws?id=212561 The Tribunal dismissed the Revenue's appeals and upheld the CIT(Appeals) orders, deleting penalties under Sections 271(1)(c) and 271AA for both M/s Pentasoft Technologies Ltd. and M/s Pentamedia Graphics Ltd. The Tribunal found no concealment of income or furnishing of inaccurate particulars by the assessees. Additionally, no specific failures in maintaining required records were identified by the Revenue, leading to the justified deletion of the penalties in all cases. en-us Fri, 25 Nov 2011 00:00:00 +0530 Tue, 20 Nov 2012 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212561 The Tribunal dismissed the Revenue's appeals and upheld the CIT(Appeals) orders, deleting penalties under Sections 271(1)(c) and 271AA for both M/s Pentasoft Technologies Ltd. and M/s Pentamedia Graphics Ltd. The Tribunal found no concealment of income or furnishing of inaccurate particulars by the assessees. Additionally, no specific failures in maintaining required records were identified by the Revenue, leading to the justified deletion of the penalties in all cases. Case-Laws Income Tax Fri, 25 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212561