https://www.taxtmi.com/caselaws?id=248836 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s order for the assessment year 2005-2006, as the penalty under section 271(1)(c) of the Act was deemed unjustified due to the absence of addition/disallowance of commission payment in the assessment. Consequently, the appeal by the Revenue was rejected. On the other hand, the assessee's Cross Objection (CO) regarding the cancellation of penalty imposed by the AO was allowed since there was no basis for penalty imposition under the Act. The Tribunal's decision favored the assessee in this case. en-us Fri, 06 Jun 2014 00:00:00 +0530 Thu, 26 Jun 2014 11:05:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248836 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s order for the assessment year 2005-2006, as the penalty under section 271(1)(c) of the Act was deemed unjustified due to the absence of addition/disallowance of commission payment in the assessment. Consequently, the appeal by the Revenue was rejected. On the other hand, the assessee's Cross Objection (CO) regarding the cancellation of penalty imposed by the AO was allowed since there was no basis for penalty imposition under the Act. The Tribunal's decision favored the assessee in this case. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248836