https://www.taxtmi.com/caselaws?id=376789 The Tribunal quashed the penalty proceedings initiated under Section 271AAB for AY 2012-13 and deleted the penalty of Rs. 86,85,000. The Tribunal highlighted that invoking Section 271(1)(c) would have been more appropriate. The appeal of the assessee was allowed, and the penalty proceedings under Section 271AAB were deemed invalid and bad in law. en-us Thu, 14 Mar 2019 00:00:00 +0530 Sat, 16 Mar 2019 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376789 The Tribunal quashed the penalty proceedings initiated under Section 271AAB for AY 2012-13 and deleted the penalty of Rs. 86,85,000. The Tribunal highlighted that invoking Section 271(1)(c) would have been more appropriate. The appeal of the assessee was allowed, and the penalty proceedings under Section 271AAB were deemed invalid and bad in law. Case-Laws Income Tax Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376789