https://www.taxtmi.com/caselaws?id=253206 The Tribunal allowed the Assessee's appeals, directing the restoration of penalty proceedings back to the Assessing Officer (A.O.) for reconsideration. The Commissioner of Income Tax (CIT) was instructed to dispose of the Assessee's application under section 273AA within ninety days. The Tribunal emphasized the independence of proceedings under section 273AA and section 271(1)(c) and the need for the A.O. to adhere to statutory timelines in penalty proceedings. The restoration aimed to enable the Assessee to potentially claim immunity under section 273AA and address any prejudice caused by the non-disposal of the application. en-us Wed, 08 Oct 2014 00:00:00 +0530 Tue, 18 Nov 2014 19:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253206 The Tribunal allowed the Assessee's appeals, directing the restoration of penalty proceedings back to the Assessing Officer (A.O.) for reconsideration. The Commissioner of Income Tax (CIT) was instructed to dispose of the Assessee's application under section 273AA within ninety days. The Tribunal emphasized the independence of proceedings under section 273AA and section 271(1)(c) and the need for the A.O. to adhere to statutory timelines in penalty proceedings. The restoration aimed to enable the Assessee to potentially claim immunity under section 273AA and address any prejudice caused by the non-disposal of the application. Case-Laws Income Tax Wed, 08 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253206