https://www.taxtmi.com/caselaws?id=402489 The Appellate Tribunal allowed the appeals filed by the assessees, canceling the penalties imposed under sections 271B, 272B, and 271(1)(b) of the Income Tax Act, 1961 for the Assessment Year 2011-12. The Tribunal overturned the penalties citing reasons including the non-appearance of the assessee, discrepancies in the assessment order regarding joint bank accounts, and specific legal provisions. en-us Fri, 04 Dec 2020 00:00:00 +0530 Mon, 04 Jan 2021 11:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402489 The Appellate Tribunal allowed the appeals filed by the assessees, canceling the penalties imposed under sections 271B, 272B, and 271(1)(b) of the Income Tax Act, 1961 for the Assessment Year 2011-12. The Tribunal overturned the penalties citing reasons including the non-appearance of the assessee, discrepancies in the assessment order regarding joint bank accounts, and specific legal provisions. Case-Laws Income Tax Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402489