https://www.taxtmi.com/caselaws?id=287557 The appeals by the assessee against penalty orders under sections 271(1)(c) and 271B for A.Y. 2008-09 were successful. The tribunal deleted the penalties citing similarities with previous cases where penalties were overturned due to comparable circumstances involving undisclosed bank accounts and non-maintenance of books of account as required by law. The tribunal found the facts in the present case to align with the previous decisions, leading to the deletion of both penalties. en-us Fri, 23 Aug 2013 00:00:00 +0530 Sat, 18 Apr 2020 14:30:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287557 The appeals by the assessee against penalty orders under sections 271(1)(c) and 271B for A.Y. 2008-09 were successful. The tribunal deleted the penalties citing similarities with previous cases where penalties were overturned due to comparable circumstances involving undisclosed bank accounts and non-maintenance of books of account as required by law. The tribunal found the facts in the present case to align with the previous decisions, leading to the deletion of both penalties. Case-Laws Income Tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287557