https://www.taxtmi.com/caselaws?id=366611 The Tribunal canceled the penalty imposed under section 271(1)(c) of the I.T. Act in the case of Spirit Infradevelopers Pvt. Ltd. for A.Y. 2011-2012. The penalty was annulled due to the quashing of re-assessment proceedings, which rendered the basis for the penalty null. Despite a mistake in the withdrawal request, the Tribunal emphasized the need to follow legal procedures and substantive justice, leading to the cancellation of the penalty. Subsequent appeals by other assessees were also allowed, with penalties being canceled for respective assessment years, highlighting the importance of adherence to legal procedures and relevant legal provisions. en-us Wed, 05 Sep 2018 00:00:00 +0530 Fri, 07 Sep 2018 08:38:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366611 The Tribunal canceled the penalty imposed under section 271(1)(c) of the I.T. Act in the case of Spirit Infradevelopers Pvt. Ltd. for A.Y. 2011-2012. The penalty was annulled due to the quashing of re-assessment proceedings, which rendered the basis for the penalty null. Despite a mistake in the withdrawal request, the Tribunal emphasized the need to follow legal procedures and substantive justice, leading to the cancellation of the penalty. Subsequent appeals by other assessees were also allowed, with penalties being canceled for respective assessment years, highlighting the importance of adherence to legal procedures and relevant legal provisions. Case-Laws Income Tax Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366611