https://www.taxtmi.com/caselaws?id=386099 The ITAT allowed the appeals against penalties levied under section 271(1)(c) of the Income Tax Act, 1961, for the Assessment Year 2012-13. The Tribunal concluded that the return filed under section 153A should be treated as the return under section 139 for penalty purposes. It emphasized the absence of incriminating documents during the search and relied on judicial precedents from the Gujarat and Delhi High Courts. The Tribunal's decision was consistent across all three appeals, underscoring the importance of aligning penalty assessments with established legal interpretations. en-us Thu, 19 Sep 2019 00:00:00 +0530 Fri, 08 Nov 2024 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386099 The ITAT allowed the appeals against penalties levied under section 271(1)(c) of the Income Tax Act, 1961, for the Assessment Year 2012-13. The Tribunal concluded that the return filed under section 153A should be treated as the return under section 139 for penalty purposes. It emphasized the absence of incriminating documents during the search and relied on judicial precedents from the Gujarat and Delhi High Courts. The Tribunal's decision was consistent across all three appeals, underscoring the importance of aligning penalty assessments with established legal interpretations. Case-Laws Income Tax Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386099