https://www.taxtmi.com/caselaws?id=291240 The Tribunal allowed the appeal of the partnership firm in the garment business, vacating the penalty imposed under section 271(1)(C) and its conversion to section 271AAA for the assessment year 2008-09. The penalty was reduced to 57,890 in favor of the assessee. The Tribunal emphasized that only the Assessing Officer could impose penalty under section 271AAA, not under section 271(1)(C), leading to the invalidity of the penalty initiation. en-us Fri, 11 Oct 2013 00:00:00 +0530 Mon, 02 Nov 2020 16:20:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291240 The Tribunal allowed the appeal of the partnership firm in the garment business, vacating the penalty imposed under section 271(1)(C) and its conversion to section 271AAA for the assessment year 2008-09. The penalty was reduced to 57,890 in favor of the assessee. The Tribunal emphasized that only the Assessing Officer could impose penalty under section 271AAA, not under section 271(1)(C), leading to the invalidity of the penalty initiation. Case-Laws Income Tax Fri, 11 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291240