https://www.taxtmi.com/caselaws?id=178205 The Tribunal dismissed the Revenue's appeal, affirming the Commissioner's decision to delete the penalty under section 271AAA of the Income-tax Act. The Tribunal relied on a Supreme Court judgment, emphasizing the importance of meeting specified conditions for penalty immunity, even if the seized cash was not immediately considered as tax payment. The Court's interpretation led to the cancellation of the penalty, highlighting the necessity of fulfilling conditions to avoid penalty imposition. en-us Fri, 28 Nov 2014 00:00:00 +0530 Sat, 30 Jan 2016 10:18:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178205 The Tribunal dismissed the Revenue's appeal, affirming the Commissioner's decision to delete the penalty under section 271AAA of the Income-tax Act. The Tribunal relied on a Supreme Court judgment, emphasizing the importance of meeting specified conditions for penalty immunity, even if the seized cash was not immediately considered as tax payment. The Court's interpretation led to the cancellation of the penalty, highlighting the necessity of fulfilling conditions to avoid penalty imposition. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178205