https://www.taxtmi.com/caselaws?id=366333 The Tribunal upheld the decision of the Ld. CIT(A) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for A.Y. 2005-06. The appellant, the Department, contested the deletion of penalty regarding the introduction of capital from the sale of agricultural land by the assessee. Despite the Revenue's argument that the penalty should be upheld, the Tribunal found no error in the deletion, emphasizing that conflicting views on identical facts were impermissible. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty. en-us Wed, 29 Aug 2018 00:00:00 +0530 Sat, 01 Sep 2018 08:28:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366333 The Tribunal upheld the decision of the Ld. CIT(A) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for A.Y. 2005-06. The appellant, the Department, contested the deletion of penalty regarding the introduction of capital from the sale of agricultural land by the assessee. Despite the Revenue's argument that the penalty should be upheld, the Tribunal found no error in the deletion, emphasizing that conflicting views on identical facts were impermissible. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366333