https://www.taxtmi.com/caselaws?id=179988 The ITAT upheld the CIT(A)'s decisions to cancel penalties imposed under section 271(1)(c) for AY 2001-02, 2002-03, and 2003-04, citing the issues as debatable and not amounting to concealment of income. Additionally, the ITAT upheld the quashing of reassessment proceedings under sections 147/148 for AY 2003-04, as the original assessment was completed and no failure to disclose material facts existed. The appeals by both the Revenue and the assessee for AY 2001-02 & 2002-03 were dismissed due to non-appearance of the assessee, with the option to seek a recall upon providing reasons for non-furnishing of address change. en-us Fri, 22 Feb 2013 00:00:00 +0530 Mon, 14 Mar 2016 17:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179988 The ITAT upheld the CIT(A)'s decisions to cancel penalties imposed under section 271(1)(c) for AY 2001-02, 2002-03, and 2003-04, citing the issues as debatable and not amounting to concealment of income. Additionally, the ITAT upheld the quashing of reassessment proceedings under sections 147/148 for AY 2003-04, as the original assessment was completed and no failure to disclose material facts existed. The appeals by both the Revenue and the assessee for AY 2001-02 & 2002-03 were dismissed due to non-appearance of the assessee, with the option to seek a recall upon providing reasons for non-furnishing of address change. Case-Laws Income Tax Fri, 22 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179988