https://www.taxtmi.com/caselaws?id=424768 The ITAT Indore Bench upheld the deletion of a penalty amounting to Rs. 73,16,502/- imposed under section 271AAB of the Income-tax Act, 1961 for assessment-year 2016-17. The Bench found that since a similar issue had been decided in favor of the assessee for the assessment-year 2015-16, the penalty for 2016-17 was also not sustainable. As a result, the ITAT dismissed the Revenue's appeal on 28.06.2022. en-us Tue, 28 Jun 2022 00:00:00 +0530 Fri, 08 Jul 2022 08:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424768 The ITAT Indore Bench upheld the deletion of a penalty amounting to Rs. 73,16,502/- imposed under section 271AAB of the Income-tax Act, 1961 for assessment-year 2016-17. The Bench found that since a similar issue had been decided in favor of the assessee for the assessment-year 2015-16, the penalty for 2016-17 was also not sustainable. As a result, the ITAT dismissed the Revenue's appeal on 28.06.2022. Case-Laws Income Tax Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424768