https://www.taxtmi.com/caselaws?id=259549 The ITAT deleted penalties imposed under section 271(1)(c) of the Income Tax Act for assessment years 2000-01, 2001-02, and 2002-03. The High Court ruled that penalties could not be sustained as the income was included in the return filed under section 153A, granting immunity under Explanation 5(2) to section 271(1)(c). As a result, the penalties were deleted for the respective assessment years. en-us Fri, 24 Apr 2015 00:00:00 +0530 Thu, 14 May 2015 06:12:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259549 The ITAT deleted penalties imposed under section 271(1)(c) of the Income Tax Act for assessment years 2000-01, 2001-02, and 2002-03. The High Court ruled that penalties could not be sustained as the income was included in the return filed under section 153A, granting immunity under Explanation 5(2) to section 271(1)(c). As a result, the penalties were deleted for the respective assessment years. Case-Laws Income Tax Fri, 24 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259549