https://www.taxtmi.com/caselaws?id=422832 The Tribunal allowed both appeals filed by the assessees, quashing the penalties imposed under section 271(1)(c) of the Income Tax Act, 1961. The delay in filing appeals was condoned, and contributions towards various funds were held not to be treated as income, following the precedent set by the Supreme Court. The penalties imposed by the Assessing Officer were found unjustified, leading to their deletion by the Tribunal. en-us Tue, 17 May 2022 00:00:00 +0530 Mon, 23 May 2022 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422832 The Tribunal allowed both appeals filed by the assessees, quashing the penalties imposed under section 271(1)(c) of the Income Tax Act, 1961. The delay in filing appeals was condoned, and contributions towards various funds were held not to be treated as income, following the precedent set by the Supreme Court. The penalties imposed by the Assessing Officer were found unjustified, leading to their deletion by the Tribunal. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422832