https://www.taxtmi.com/caselaws?id=401553 The Tribunal quashed the assessment order for A.Y. 2004-05, declaring it void ab initio, leading to the deletion of the penalty under section 271(1)(c) as its basis was removed. For A.Y. 2005-06 to 2010-11, the Tribunal ordered the deletion of penalties related to the disallowance of depreciation claims on flats, citing invalid penalty notices and acknowledging the claims as inadvertent errors without tax benefits. Consequently, all appeals by the assessee were allowed, and the AO was directed to delete the penalties for the relevant assessment years. en-us Wed, 09 Dec 2020 00:00:00 +0530 Mon, 04 Nov 2024 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401553 The Tribunal quashed the assessment order for A.Y. 2004-05, declaring it void ab initio, leading to the deletion of the penalty under section 271(1)(c) as its basis was removed. For A.Y. 2005-06 to 2010-11, the Tribunal ordered the deletion of penalties related to the disallowance of depreciation claims on flats, citing invalid penalty notices and acknowledging the claims as inadvertent errors without tax benefits. Consequently, all appeals by the assessee were allowed, and the AO was directed to delete the penalties for the relevant assessment years. Case-Laws Income Tax Wed, 09 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401553