https://www.taxtmi.com/caselaws?id=347345 The Tribunal allowed the assessee's appeals challenging penalties imposed under section 271(1)(c) of the Income-tax Act for multiple assessment years. Additional legal grounds were raised, contesting the penalty notice's legality and lack of specificity. Relying on legal precedents, the Tribunal found the penalty proceedings flawed due to the absence of recorded satisfaction and unspecified grounds for imposition. Consequently, all penalties were deleted in favor of the assessee, following the decision in the assessment year 2006-07 appeal. The Tribunal's final order on June 28, 2017, overturned all penalties imposed, citing legal deficiencies in the penalty imposition process. en-us Wed, 28 Jun 2017 00:00:00 +0530 Sat, 02 Sep 2017 11:18:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347345 The Tribunal allowed the assessee's appeals challenging penalties imposed under section 271(1)(c) of the Income-tax Act for multiple assessment years. Additional legal grounds were raised, contesting the penalty notice's legality and lack of specificity. Relying on legal precedents, the Tribunal found the penalty proceedings flawed due to the absence of recorded satisfaction and unspecified grounds for imposition. Consequently, all penalties were deleted in favor of the assessee, following the decision in the assessment year 2006-07 appeal. The Tribunal's final order on June 28, 2017, overturned all penalties imposed, citing legal deficiencies in the penalty imposition process. Case-Laws Income Tax Wed, 28 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347345