https://www.taxtmi.com/caselaws?id=282089 The Tribunal upheld the deletion of penalties under section 271(1)(c) by CIT(A)-II, Ahmedabad in three cases following a search under section 132. The Tribunal found that the assessee met the conditions for immunity against penalties as per Explanation-5 to Section 271(1)(c) of the IT Act. Consequently, the Tribunal affirmed the decision to cancel the penalties, dismissing the Revenue Department's appeals. en-us Fri, 23 Nov 2012 00:00:00 +0530 Sat, 20 Jul 2019 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282089 The Tribunal upheld the deletion of penalties under section 271(1)(c) by CIT(A)-II, Ahmedabad in three cases following a search under section 132. The Tribunal found that the assessee met the conditions for immunity against penalties as per Explanation-5 to Section 271(1)(c) of the IT Act. Consequently, the Tribunal affirmed the decision to cancel the penalties, dismissing the Revenue Department's appeals. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282089