https://www.taxtmi.com/caselaws?id=261761 The Appellate Tribunal ITAT Ahmedabad dismissed both the Revenue's appeals and the Assessee's cross-objections for AY 2005-06. The CIT(A)'s decisions were largely upheld, with the Revenue's appeals on quantum and penalty matters being rejected due to lack of valid grounds and the Assessee's objections being dismissed for lack of proper prosecution. The penalty imposed under section 271(1)(c) was canceled based on the appellant's genuine belief and compliance with tax laws. en-us Thu, 09 Jul 2015 00:00:00 +0530 Wed, 22 Jul 2015 06:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261761 The Appellate Tribunal ITAT Ahmedabad dismissed both the Revenue's appeals and the Assessee's cross-objections for AY 2005-06. The CIT(A)'s decisions were largely upheld, with the Revenue's appeals on quantum and penalty matters being rejected due to lack of valid grounds and the Assessee's objections being dismissed for lack of proper prosecution. The penalty imposed under section 271(1)(c) was canceled based on the appellant's genuine belief and compliance with tax laws. Case-Laws Income Tax Thu, 09 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261761