https://www.taxtmi.com/caselaws?id=191659 The Appellate Tribunal upheld the cancellation of penalties under section 271(1)(c) of the IT Act for various assessees involved in the development of land through tripartite agreements. Citing previous judgments and rulings, the Tribunal found in favor of the assessees, dismissing the revenue's claims and emphasizing that penalties were unjustified. Consequently, all departmental appeals were dismissed, affirming the decisions of the High Court and previous Tribunal rulings in support of the assessees. en-us Fri, 16 Oct 2015 00:00:00 +0530 Wed, 12 Apr 2017 09:45:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191659 The Appellate Tribunal upheld the cancellation of penalties under section 271(1)(c) of the IT Act for various assessees involved in the development of land through tripartite agreements. Citing previous judgments and rulings, the Tribunal found in favor of the assessees, dismissing the revenue's claims and emphasizing that penalties were unjustified. Consequently, all departmental appeals were dismissed, affirming the decisions of the High Court and previous Tribunal rulings in support of the assessees. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191659