https://www.taxtmi.com/caselaws?id=391632 The tribunal allowed all 13 appeals filed by the assessee, resulting in the deletion of penalties imposed under Sections 271B, 271(1)(c), and 271AAB of the IT Act for the assessment years in question. The tribunal found the penalties under Section 271B unjustified due to applicable precedents, deemed the penalty notices under Section 271(1)(c) vague, and determined no undisclosed income existed for the penalty under Section 271AAB. en-us Wed, 29 Jan 2020 00:00:00 +0530 Thu, 07 Nov 2024 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391632 The tribunal allowed all 13 appeals filed by the assessee, resulting in the deletion of penalties imposed under Sections 271B, 271(1)(c), and 271AAB of the IT Act for the assessment years in question. The tribunal found the penalties under Section 271B unjustified due to applicable precedents, deemed the penalty notices under Section 271(1)(c) vague, and determined no undisclosed income existed for the penalty under Section 271AAB. Case-Laws Income Tax Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391632