https://www.taxtmi.com/caselaws?id=259492 The Tribunal held that the penalty under Section 271(1)(c) of the Income-tax Act was not justified regarding the fair market value estimation and the year of taxability issues. The Tribunal directed the Assessing Officer to delete the penalty imposed, setting aside the CIT(A)'s order. The appeal of the assessee was partly allowed. en-us Fri, 10 Apr 2015 00:00:00 +0530 Mon, 27 Apr 2015 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259492 The Tribunal held that the penalty under Section 271(1)(c) of the Income-tax Act was not justified regarding the fair market value estimation and the year of taxability issues. The Tribunal directed the Assessing Officer to delete the penalty imposed, setting aside the CIT(A)'s order. The appeal of the assessee was partly allowed. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259492