https://www.taxtmi.com/caselaws?id=233859 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed by the Assessing Officer. The penalties were removed due to the Assessing Officer's failure to properly initiate penalty proceedings and the debatable nature of the issues involved, which did not warrant penalties for concealment or furnishing inaccurate income particulars. The Tribunal dismissed the department's appeal, affirming the deletion of penalties. en-us Fri, 05 Apr 2013 00:00:00 +0530 Sat, 18 May 2013 10:05:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233859 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed by the Assessing Officer. The penalties were removed due to the Assessing Officer's failure to properly initiate penalty proceedings and the debatable nature of the issues involved, which did not warrant penalties for concealment or furnishing inaccurate income particulars. The Tribunal dismissed the department's appeal, affirming the deletion of penalties. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233859