https://www.taxtmi.com/caselaws?id=283233 The Tribunal annulled the penalties imposed under section 271(1)(b) of the Income Tax Act, 1961, finding them unjustified. It determined that neither the AO nor the CIT (A) substantiated the penalties' validity. The Tribunal directed the AO to delete the penalties, aligning with natural justice and reasonable compliance opportunity principles. en-us Wed, 13 May 2015 00:00:00 +0530 Thu, 14 Nov 2024 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283233 The Tribunal annulled the penalties imposed under section 271(1)(b) of the Income Tax Act, 1961, finding them unjustified. It determined that neither the AO nor the CIT (A) substantiated the penalties' validity. The Tribunal directed the AO to delete the penalties, aligning with natural justice and reasonable compliance opportunity principles. Case-Laws Income Tax Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283233