https://www.taxtmi.com/caselaws?id=293163 The Tribunal allowed the assessee's appeals, concluding that the penalties imposed under Section 271(1)(c) of the Income Tax Act for the assessment years 2003-04 and 2007-08 were invalid as the assessments were quashed due to lack of incriminating material. Therefore, the penalties were deleted, and the orders of the lower authorities were set aside. The appeals were allowed in favor of the assessee. en-us Fri, 07 Oct 2016 00:00:00 +0530 Wed, 27 Jan 2021 18:59:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293163 The Tribunal allowed the assessee's appeals, concluding that the penalties imposed under Section 271(1)(c) of the Income Tax Act for the assessment years 2003-04 and 2007-08 were invalid as the assessments were quashed due to lack of incriminating material. Therefore, the penalties were deleted, and the orders of the lower authorities were set aside. The appeals were allowed in favor of the assessee. Case-Laws Income Tax Fri, 07 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293163