https://www.taxtmi.com/caselaws?id=250404 The appeal against the penalty imposition in a case involving assessment year 1989-90, where penalty proceedings were initiated under Section 271(1)(c) against a firm and its partners, was allowed. The appellate authority set aside the penalty order, stating that penal action should be directed towards the firm rather than the partners as the partners only had a share income from the firm. The Tribunal's decision to cancel the penalty was upheld in the appeal under Section 260A, emphasizing that penalties cannot be duplicated by imposing them on both the firm and its partners. The Court dismissed the department's appeal, finding no concealment of income and justifying the cancellation of the penalty. en-us Tue, 05 Aug 2014 00:00:00 +0530 Mon, 11 Aug 2014 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250404 The appeal against the penalty imposition in a case involving assessment year 1989-90, where penalty proceedings were initiated under Section 271(1)(c) against a firm and its partners, was allowed. The appellate authority set aside the penalty order, stating that penal action should be directed towards the firm rather than the partners as the partners only had a share income from the firm. The Tribunal's decision to cancel the penalty was upheld in the appeal under Section 260A, emphasizing that penalties cannot be duplicated by imposing them on both the firm and its partners. The Court dismissed the department's appeal, finding no concealment of income and justifying the cancellation of the penalty. Case-Laws Income Tax Tue, 05 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250404