https://www.taxtmi.com/caselaws?id=433750 The Tribunal allowed all appeals by the assessee, setting aside the penalties imposed under Section 271(1)(c) for the Assessment Years 2009-10, 2010-11, and 2011-12. The Tribunal found the transactions genuine, lacked justification for penalties, and noted discrepancies in penalty notices. Consequently, the penalties were deemed unsustainable and were deleted, resulting in the appeals being allowed. en-us Fri, 03 Feb 2023 00:00:00 +0530 Wed, 08 Feb 2023 07:36:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433750 The Tribunal allowed all appeals by the assessee, setting aside the penalties imposed under Section 271(1)(c) for the Assessment Years 2009-10, 2010-11, and 2011-12. The Tribunal found the transactions genuine, lacked justification for penalties, and noted discrepancies in penalty notices. Consequently, the penalties were deemed unsustainable and were deleted, resulting in the appeals being allowed. Case-Laws Income Tax Fri, 03 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433750