https://www.taxtmi.com/caselaws?id=219587 The Tribunal upheld penalty deletions for various issues across multiple assessment years under section 271(1)(c). The decisions were based on legal precedents, admitted questions of law, lack of contrary views, and the assessee's voluntary actions in offering income for taxation. The judgment emphasized the significance of bona fide beliefs and legally sustainable views in penalty determinations. Consequently, the Revenue's appeals were dismissed, and the penalty deletions were upheld, with cross objections not pressed and dismissed. en-us Fri, 20 Jul 2012 00:00:00 +0530 Thu, 04 Oct 2012 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219587 The Tribunal upheld penalty deletions for various issues across multiple assessment years under section 271(1)(c). The decisions were based on legal precedents, admitted questions of law, lack of contrary views, and the assessee's voluntary actions in offering income for taxation. The judgment emphasized the significance of bona fide beliefs and legally sustainable views in penalty determinations. Consequently, the Revenue's appeals were dismissed, and the penalty deletions were upheld, with cross objections not pressed and dismissed. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219587