https://www.taxtmi.com/caselaws?id=382903 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed by the AO under section 271(1)(c) for four assessees. The Tribunal emphasized the necessity of evidence to support penalties under the Income Tax Act. Both the Revenue's appeals and assessees' Cross Objections were dismissed as the penalties had no basis after the additions to income were deleted. en-us Tue, 09 Jul 2019 00:00:00 +0530 Thu, 11 Jul 2019 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382903 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed by the AO under section 271(1)(c) for four assessees. The Tribunal emphasized the necessity of evidence to support penalties under the Income Tax Act. Both the Revenue's appeals and assessees' Cross Objections were dismissed as the penalties had no basis after the additions to income were deleted. Case-Laws Income Tax Tue, 09 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382903