https://www.taxtmi.com/caselaws?id=279565 The appeal against the cancellation of penalties under sections 271(1)(c) on disallowance under sections 14A and 94(7) of the Income-tax Act, 1961 was dismissed. The CIT(A) cancelled the penalties citing relevant case laws, and the ITAT's decision to set aside the additions led to the cancellation of penalties. Legal precedents supported the decision, resulting in the dismissal of the appeal. The assessing officer was directed to re-adjudicate the matter based on the ITAT's decision. en-us Tue, 03 Jul 2012 00:00:00 +0530 Mon, 25 Mar 2019 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279565 The appeal against the cancellation of penalties under sections 271(1)(c) on disallowance under sections 14A and 94(7) of the Income-tax Act, 1961 was dismissed. The CIT(A) cancelled the penalties citing relevant case laws, and the ITAT's decision to set aside the additions led to the cancellation of penalties. Legal precedents supported the decision, resulting in the dismissal of the appeal. The assessing officer was directed to re-adjudicate the matter based on the ITAT's decision. Case-Laws Income Tax Tue, 03 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279565