https://www.taxtmi.com/caselaws?id=433085 The Tribunal allowed the appeals of the assessee in both assessment years, directing the deletion of penalties imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal considered that the income had already been taxed in the hands of another entity, leading to the decision to delete the penalties in both cases. en-us Wed, 18 Jan 2023 00:00:00 +0530 Thu, 19 Jan 2023 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433085 The Tribunal allowed the appeals of the assessee in both assessment years, directing the deletion of penalties imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal considered that the income had already been taxed in the hands of another entity, leading to the decision to delete the penalties in both cases. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433085