https://www.taxtmi.com/caselaws?id=260966 The Tribunal upheld the Ld. CIT(A)'s decision to delete penalties under section 271(1)(c) for Assessment Years 2002-03 and 2003-04. In both cases, penalties were imposed for inaccurate income particulars related to corpus fund receipts. The Tribunal affirmed the deletion of penalties based on the ITAT's decision favoring the assessee in the quantum appeal. The Tribunal found no grounds to interfere, concluding that penalties were unsustainable given the circumstances of the cases. en-us Tue, 16 Jun 2015 00:00:00 +0530 Mon, 29 Jun 2015 06:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260966 The Tribunal upheld the Ld. CIT(A)'s decision to delete penalties under section 271(1)(c) for Assessment Years 2002-03 and 2003-04. In both cases, penalties were imposed for inaccurate income particulars related to corpus fund receipts. The Tribunal affirmed the deletion of penalties based on the ITAT's decision favoring the assessee in the quantum appeal. The Tribunal found no grounds to interfere, concluding that penalties were unsustainable given the circumstances of the cases. Case-Laws Income Tax Tue, 16 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260966