https://www.taxtmi.com/caselaws?id=328113 The Tribunal found that the appellants were entitled to immunity under clause (2) of Explanation (5) of Section 271(1)(c) of the Income Tax Act as they met the necessary conditions. Consequently, the penalties imposed by the Assessing Officer were deemed unsustainable. The appeals were allowed, and the penalties were deleted. en-us Mon, 02 May 2016 00:00:00 +0530 Thu, 26 May 2016 08:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328113 The Tribunal found that the appellants were entitled to immunity under clause (2) of Explanation (5) of Section 271(1)(c) of the Income Tax Act as they met the necessary conditions. Consequently, the penalties imposed by the Assessing Officer were deemed unsustainable. The appeals were allowed, and the penalties were deleted. Case-Laws Income Tax Mon, 02 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328113