https://www.taxtmi.com/caselaws?id=263389 The Appellate Tribunal set aside penalty orders under section 271(1)(c) of the Income-tax Act, 1961 for assessment years 2003-04 to 2006-07. The Tribunal found discrepancies between the grounds for initiating penalty proceedings and the actual penalty imposition. Relying on legal precedents, the Tribunal emphasized the need for alignment between the grounds and penalty imposition, leading to the conclusion that penalties were not sustainable. Consequently, the Tribunal allowed the assessee's appeals, overturning the Commissioner of Income-tax (Appeals) orders and directing the deletion of penalties for all years in question. en-us Wed, 07 Jan 2015 00:00:00 +0530 Wed, 02 Sep 2015 07:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263389 The Appellate Tribunal set aside penalty orders under section 271(1)(c) of the Income-tax Act, 1961 for assessment years 2003-04 to 2006-07. The Tribunal found discrepancies between the grounds for initiating penalty proceedings and the actual penalty imposition. Relying on legal precedents, the Tribunal emphasized the need for alignment between the grounds and penalty imposition, leading to the conclusion that penalties were not sustainable. Consequently, the Tribunal allowed the assessee's appeals, overturning the Commissioner of Income-tax (Appeals) orders and directing the deletion of penalties for all years in question. Case-Laws Income Tax Wed, 07 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263389