https://www.taxtmi.com/caselaws?id=285779 The High Court upheld the ITAT's deletion of the penalty under section 271(1)(c) of the Income Tax Act for the Assessment Year 2008-2009. The Court found that the issues had already been settled in a previous decision concerning the respondent-assessee's sister concern, and no new substantial legal questions arose. Emphasizing the importance of consistency and precedent, the Court dismissed the Revenue's appeal, citing the binding nature of prior judgments on similar cases and the principle of judicial finality. en-us Tue, 07 Aug 2018 00:00:00 +0530 Sat, 25 Jan 2020 18:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285779 The High Court upheld the ITAT's deletion of the penalty under section 271(1)(c) of the Income Tax Act for the Assessment Year 2008-2009. The Court found that the issues had already been settled in a previous decision concerning the respondent-assessee's sister concern, and no new substantial legal questions arose. Emphasizing the importance of consistency and precedent, the Court dismissed the Revenue's appeal, citing the binding nature of prior judgments on similar cases and the principle of judicial finality. Case-Laws Income Tax Tue, 07 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285779