https://www.taxtmi.com/caselaws?id=403836 The Tribunal dismissed the Revenue's Miscellaneous Application seeking rectification in the order that deleted a penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal upheld its previous decision, emphasizing the necessity for clarity in penalty imposition and adherence to principles of natural justice. The Assessee's argument that the Revenue's application did not demonstrate a mistake apparent from the record, but aimed to re-argue the matter, was accepted, leading to the dismissal of the Revenue's application. en-us Fri, 05 Feb 2021 00:00:00 +0530 Tue, 09 Feb 2021 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403836 The Tribunal dismissed the Revenue's Miscellaneous Application seeking rectification in the order that deleted a penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal upheld its previous decision, emphasizing the necessity for clarity in penalty imposition and adherence to principles of natural justice. The Assessee's argument that the Revenue's application did not demonstrate a mistake apparent from the record, but aimed to re-argue the matter, was accepted, leading to the dismissal of the Revenue's application. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403836