https://www.taxtmi.com/caselaws?id=283650 The Appellate Tribunal ITAT Cochin dismissed six revenue appeals challenging penalties imposed under section 271(1)(c) for assessment years 2003-04 to 2008-09. The Tribunal upheld the lower authority's decision to delete the penalties, considering the complexities arising from the taxpayer's death and the legal heirs' practical difficulties in explaining unexplained bank account credits. The Tribunal emphasized that not all additions in assessment automatically warrant penalties, leading to the conclusion that it was unjust to levy penalties in this case. en-us Fri, 07 Sep 2012 00:00:00 +0530 Fri, 04 Oct 2019 14:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283650 The Appellate Tribunal ITAT Cochin dismissed six revenue appeals challenging penalties imposed under section 271(1)(c) for assessment years 2003-04 to 2008-09. The Tribunal upheld the lower authority's decision to delete the penalties, considering the complexities arising from the taxpayer's death and the legal heirs' practical difficulties in explaining unexplained bank account credits. The Tribunal emphasized that not all additions in assessment automatically warrant penalties, leading to the conclusion that it was unjust to levy penalties in this case. Case-Laws Income Tax Fri, 07 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283650