https://www.taxtmi.com/caselaws?id=425308 The Tribunal quashed the penalty imposed by the CIT(A) under Section 271(1)(c) of the Income-tax Act for A.Y. 2012-13. The decision was influenced by legal precedents and emphasized the importance of proper satisfaction for imposing penalties. The Tribunal allowed the appeal, setting aside the penalty of Rs. 2,81,51,400/- due to the debatable nature of the issues involved and the lack of proper satisfaction recorded for imposing penalties. en-us Mon, 18 Jul 2022 00:00:00 +0530 Wed, 20 Jul 2022 09:24:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425308 The Tribunal quashed the penalty imposed by the CIT(A) under Section 271(1)(c) of the Income-tax Act for A.Y. 2012-13. The decision was influenced by legal precedents and emphasized the importance of proper satisfaction for imposing penalties. The Tribunal allowed the appeal, setting aside the penalty of Rs. 2,81,51,400/- due to the debatable nature of the issues involved and the lack of proper satisfaction recorded for imposing penalties. Case-Laws Income Tax Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425308