https://www.taxtmi.com/caselaws?id=290000 The tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the penalty levied under section 234E of the Income Tax Act for the assessment year 2014-15. The tribunal held that prior to 01.06.2015, there was no authority to impose the penalty, relying on a High Court judgment and a co-ordinate bench decision. Emphasizing the principle of following decisions favoring the assessee in case of conflicting rulings, the tribunal allowed both appeals and concluded that the penalty under section 234E was not applicable before the specified date. en-us Wed, 04 Mar 2020 00:00:00 +0530 Mon, 05 Oct 2020 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290000 The tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the penalty levied under section 234E of the Income Tax Act for the assessment year 2014-15. The tribunal held that prior to 01.06.2015, there was no authority to impose the penalty, relying on a High Court judgment and a co-ordinate bench decision. Emphasizing the principle of following decisions favoring the assessee in case of conflicting rulings, the tribunal allowed both appeals and concluded that the penalty under section 234E was not applicable before the specified date. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290000