https://www.taxtmi.com/caselaws?id=292431 The Tribunal allowed the appellant's appeal, deleting the penalty imposed under section 271AAA of the Income-tax Act, 1961. The appellant demonstrated timely tax payment by adjusting seized cash towards the tax liability and filing the return before the extended due date. The Tribunal emphasized the significance of meeting conditions for immunity under section 271AAA and stressed the necessity for accurate verification before penalizing taxpayers, ensuring adherence to legal standards and principles of natural justice in tax penalty matters. en-us Mon, 07 Oct 2019 00:00:00 +0530 Wed, 23 Dec 2020 15:13:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292431 The Tribunal allowed the appellant's appeal, deleting the penalty imposed under section 271AAA of the Income-tax Act, 1961. The appellant demonstrated timely tax payment by adjusting seized cash towards the tax liability and filing the return before the extended due date. The Tribunal emphasized the significance of meeting conditions for immunity under section 271AAA and stressed the necessity for accurate verification before penalizing taxpayers, ensuring adherence to legal standards and principles of natural justice in tax penalty matters. Case-Laws Income Tax Mon, 07 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292431