https://www.taxtmi.com/caselaws?id=335858 The Court dismissed the appeal challenging the deletion of penalties imposed by the Assessing Officer under Section 271 of the Income Tax Act. The Tribunal and appellate authorities found no justification for penalties, considering the absence of deliberate misstatements or material suppression. The Court emphasized the accurate application of provisions and retrospective effect in determining penalty deletions, concluding that no substantial questions of law arose from the case. en-us Tue, 06 Dec 2016 00:00:00 +0530 Sun, 11 Dec 2016 23:50:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335858 The Court dismissed the appeal challenging the deletion of penalties imposed by the Assessing Officer under Section 271 of the Income Tax Act. The Tribunal and appellate authorities found no justification for penalties, considering the absence of deliberate misstatements or material suppression. The Court emphasized the accurate application of provisions and retrospective effect in determining penalty deletions, concluding that no substantial questions of law arose from the case. Case-Laws Income Tax Tue, 06 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335858