https://www.taxtmi.com/caselaws?id=400233 The High Court of Madras upheld the penalty deletions under Sections 271(1)(c) and 271AAB challenged by the Revenue for Assessment Years 2009-10 and 2015-16. The court considered the deliberate furnishing of inaccurate particulars, previous court decisions, penalties for non-bona fide deductions, and the assessee's intent to avail the Vivad Se Vishwas Scheme for tax dispute resolution. The court detailed the provisions of the Direct Tax Vivad Se Vishwas Act, 2020, providing options for resolving tax disputes and directed the assessee to file the necessary form under the Act. The court disposed of the Tax Case Appeals with liberty for restoration based on the outcome of the declaration filed under the Act. en-us Tue, 13 Oct 2020 00:00:00 +0530 Sat, 31 Oct 2020 16:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400233 The High Court of Madras upheld the penalty deletions under Sections 271(1)(c) and 271AAB challenged by the Revenue for Assessment Years 2009-10 and 2015-16. The court considered the deliberate furnishing of inaccurate particulars, previous court decisions, penalties for non-bona fide deductions, and the assessee's intent to avail the Vivad Se Vishwas Scheme for tax dispute resolution. The court detailed the provisions of the Direct Tax Vivad Se Vishwas Act, 2020, providing options for resolving tax disputes and directed the assessee to file the necessary form under the Act. The court disposed of the Tax Case Appeals with liberty for restoration based on the outcome of the declaration filed under the Act. Case-Laws Income Tax Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400233