https://www.taxtmi.com/caselaws?id=182273 The Coordinate Bench upheld the deletion of penalties imposed under sections 271G and 271AA of the Income Tax Act for the assessment year 2005-06. The Commissioner of Income Tax (Appeals) had deleted the penalties considering the reasonable cause for delay in document submission due to unforeseen circumstances, such as the sudden departure of the Company Secretary. The company provided sufficient details, maintained records as required, and did not incur any revenue loss. The Revenue's appeals challenging the deletion of penalties were dismissed, affirming the Commissioner's decision. en-us Tue, 18 Sep 2012 00:00:00 +0530 Fri, 06 May 2016 14:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182273 The Coordinate Bench upheld the deletion of penalties imposed under sections 271G and 271AA of the Income Tax Act for the assessment year 2005-06. The Commissioner of Income Tax (Appeals) had deleted the penalties considering the reasonable cause for delay in document submission due to unforeseen circumstances, such as the sudden departure of the Company Secretary. The company provided sufficient details, maintained records as required, and did not incur any revenue loss. The Revenue's appeals challenging the deletion of penalties were dismissed, affirming the Commissioner's decision. Case-Laws Income Tax Tue, 18 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182273