https://www.taxtmi.com/caselaws?id=179196 The ITAT dismissed the Revenue's appeals challenging the cancellation of penalties for Assessment Years 2004-05 and 2005-06, amounting to Rs. 9,74,938 and Rs. 9,98,219 respectively. The CIT(A)'s decision to cancel the penalties was upheld, emphasizing the need to give appeal effect to earlier orders and consider consolidated returns before imposing penalties. The judgment highlighted the importance of following proper procedures and legal directives in penalty assessments under section 271(1)(c) of the Income-tax Act, 1961. en-us Fri, 03 Jan 2014 00:00:00 +0530 Tue, 23 Feb 2016 10:23:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179196 The ITAT dismissed the Revenue's appeals challenging the cancellation of penalties for Assessment Years 2004-05 and 2005-06, amounting to Rs. 9,74,938 and Rs. 9,98,219 respectively. The CIT(A)'s decision to cancel the penalties was upheld, emphasizing the need to give appeal effect to earlier orders and consider consolidated returns before imposing penalties. The judgment highlighted the importance of following proper procedures and legal directives in penalty assessments under section 271(1)(c) of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 03 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179196