https://www.taxtmi.com/caselaws?id=181423 The Tribunal dismissed the appeal ITA No. 1008/Pn/2009 due to the penalty effect being below Rs. 2 lakhs. However, the remaining appeals were allowed, restoring the penalties imposed by the AO. The Tribunal emphasized the importance of applying Explanation 5 to Section 271(1)(c) correctly and maintaining consistency in legal principles across different assessment years within the same group. en-us Fri, 05 Feb 2010 00:00:00 +0530 Mon, 21 Aug 2023 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181423 The Tribunal dismissed the appeal ITA No. 1008/Pn/2009 due to the penalty effect being below Rs. 2 lakhs. However, the remaining appeals were allowed, restoring the penalties imposed by the AO. The Tribunal emphasized the importance of applying Explanation 5 to Section 271(1)(c) correctly and maintaining consistency in legal principles across different assessment years within the same group. Case-Laws Income Tax Fri, 05 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181423