https://www.taxtmi.com/caselaws?id=266310 The Appellate Tribunal ITAT Mumbai consolidated six appeals by the revenue against penalty orders under section 271(1)(c) for different assessment years, related to transfer fees and TDR premium. Conflicting Tribunal decisions led to the Jurisdictional High Court dismissing revenue's appeals, supporting the assessee. The Tribunal upheld the CIT(A)'s deletion of penalties, citing the principle of mutuality. Relying on the High Court's decision, the Tribunal dismissed revenue's appeals, concluding in favor of the assessee for all assessment years. The penalties under section 271(1)(c) were deleted, and the revenue's appeals were dismissed on 20.5.2015. en-us Wed, 20 May 2015 00:00:00 +0530 Mon, 19 Oct 2015 20:33:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266310 The Appellate Tribunal ITAT Mumbai consolidated six appeals by the revenue against penalty orders under section 271(1)(c) for different assessment years, related to transfer fees and TDR premium. Conflicting Tribunal decisions led to the Jurisdictional High Court dismissing revenue's appeals, supporting the assessee. The Tribunal upheld the CIT(A)'s deletion of penalties, citing the principle of mutuality. Relying on the High Court's decision, the Tribunal dismissed revenue's appeals, concluding in favor of the assessee for all assessment years. The penalties under section 271(1)(c) were deleted, and the revenue's appeals were dismissed on 20.5.2015. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266310