https://www.taxtmi.com/caselaws?id=326693 The Tribunal directed the A.O. to delete the penalty of Rs. 10 lakhs levied under Section 271(1)(c) of the Income Tax Act, allowing the appeal filed by the assessee and dismissing the appeal filed by the revenue. The judgment emphasized that penalty provisions should be strictly construed and applied only when conditions stipulated in the law are unambiguously satisfied. en-us Fri, 18 Mar 2016 00:00:00 +0530 Fri, 22 Apr 2016 08:49:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326693 The Tribunal directed the A.O. to delete the penalty of Rs. 10 lakhs levied under Section 271(1)(c) of the Income Tax Act, allowing the appeal filed by the assessee and dismissing the appeal filed by the revenue. The judgment emphasized that penalty provisions should be strictly construed and applied only when conditions stipulated in the law are unambiguously satisfied. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326693