https://www.taxtmi.com/caselaws?id=187173 The Court ruled in favor of the assessee, finding no justification for imposing penalties under section 271(1)(c) of the Income Tax Act for the assessment years 2001-02 to 2004-05. The Court held that since the assessments were agreed upon, the appeals against them were not maintainable, emphasizing that the officer was not bound to maintain additions agreed upon by the assessee if not for the agreement. As a result, the Court vacated the Tribunal and first appellate authority's orders, reinstated the assessments, and confirmed the cancellation of penalty orders for all years. en-us Tue, 27 Oct 2009 00:00:00 +0530 Wed, 12 Oct 2016 16:47:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187173 The Court ruled in favor of the assessee, finding no justification for imposing penalties under section 271(1)(c) of the Income Tax Act for the assessment years 2001-02 to 2004-05. The Court held that since the assessments were agreed upon, the appeals against them were not maintainable, emphasizing that the officer was not bound to maintain additions agreed upon by the assessee if not for the agreement. As a result, the Court vacated the Tribunal and first appellate authority's orders, reinstated the assessments, and confirmed the cancellation of penalty orders for all years. Case-Laws Income Tax Tue, 27 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187173