https://www.taxtmi.com/caselaws?id=194734 The High Court and Tribunal ruled in favor of the assessee, a partnership firm, in penalty proceedings under section 271(1)(c) for Assessment Years 2003-04 and 2004-05. The penalties were cancelled as the assessments had already attained finality before the search, and the disallowances were not based on new findings. en-us Tue, 30 Apr 2013 00:00:00 +0530 Thu, 21 Sep 2017 17:02:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194734 The High Court and Tribunal ruled in favor of the assessee, a partnership firm, in penalty proceedings under section 271(1)(c) for Assessment Years 2003-04 and 2004-05. The penalties were cancelled as the assessments had already attained finality before the search, and the disallowances were not based on new findings. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194734