https://www.taxtmi.com/caselaws?id=242593 The Court allowed the appeal, setting aside the ITAT's decision to cancel the penalty imposed under section 158BFA(2) of the Income Tax Act, 1961. The matter was remanded back to the ITAT for fresh assessment of the penalty in accordance with legal principles established by the High Court's Division Bench. No costs were awarded in this decision. en-us Sat, 21 Dec 2013 00:00:00 +0530 Sat, 18 Jan 2014 10:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242593 The Court allowed the appeal, setting aside the ITAT's decision to cancel the penalty imposed under section 158BFA(2) of the Income Tax Act, 1961. The matter was remanded back to the ITAT for fresh assessment of the penalty in accordance with legal principles established by the High Court's Division Bench. No costs were awarded in this decision. Case-Laws Income Tax Sat, 21 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242593