https://www.taxtmi.com/caselaws?id=435281 The ITAT Delhi upheld the CIT(A)'s decision to delete penalties imposed by the AO under section 271(1)(c) for A.Y. 2012-13 and 2013-14. The Tribunal found that the CIT(A) correctly applied the CBDT circular, stating that penalties are not applicable when tax payable under section 115JB exceeds tax payable under normal provisions. The Revenue's appeals were dismissed as they failed to show any errors in the CIT(A)'s decision or the circular's application. en-us Tue, 14 Mar 2023 00:00:00 +0530 Thu, 16 Mar 2023 08:40:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435281 The ITAT Delhi upheld the CIT(A)'s decision to delete penalties imposed by the AO under section 271(1)(c) for A.Y. 2012-13 and 2013-14. The Tribunal found that the CIT(A) correctly applied the CBDT circular, stating that penalties are not applicable when tax payable under section 115JB exceeds tax payable under normal provisions. The Revenue's appeals were dismissed as they failed to show any errors in the CIT(A)'s decision or the circular's application. Case-Laws Income Tax Tue, 14 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435281