https://www.taxtmi.com/caselaws?id=189898 The Tribunal overturned penalties imposed by the Ld. CIT(A) under section 271(1)(c) of the Income Tax Act for disallowances under section 94(7) in assessment years 2009-10 and 2007-08. Relying on precedent and decisions in similar cases, the Tribunal directed the AO to delete the penalties, citing lack of merit in the penalties imposed. The appellant's appeals were allowed, and the penalties were set aside in favor of the appellant in a judgment pronounced on 26th February 2015. en-us Thu, 26 Feb 2015 00:00:00 +0530 Wed, 25 Jan 2017 08:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189898 The Tribunal overturned penalties imposed by the Ld. CIT(A) under section 271(1)(c) of the Income Tax Act for disallowances under section 94(7) in assessment years 2009-10 and 2007-08. Relying on precedent and decisions in similar cases, the Tribunal directed the AO to delete the penalties, citing lack of merit in the penalties imposed. The appellant's appeals were allowed, and the penalties were set aside in favor of the appellant in a judgment pronounced on 26th February 2015. Case-Laws Income Tax Thu, 26 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189898