https://www.taxtmi.com/caselaws?id=438031 The Tribunal upheld the decision of the ld. Commissioner of Income Tax (Appeals) to delete the penalty imposed under section 271(1)(c) for the assessment years 2010-11 and 2011-12. Relying on the precedent set by the Hon'ble Delhi High Court in CIT Vs. Nalwa Sons Investments Ltd., the Tribunal found that the penalty was not sustainable due to the application of Minimum Alternate Tax provisions in the assessments. As a result, the Revenue's appeals against the penalty orders were dismissed, aligning with the decision in the cited case law. en-us Thu, 18 May 2023 00:00:00 +0530 Sat, 20 May 2023 08:50:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438031 The Tribunal upheld the decision of the ld. Commissioner of Income Tax (Appeals) to delete the penalty imposed under section 271(1)(c) for the assessment years 2010-11 and 2011-12. Relying on the precedent set by the Hon'ble Delhi High Court in CIT Vs. Nalwa Sons Investments Ltd., the Tribunal found that the penalty was not sustainable due to the application of Minimum Alternate Tax provisions in the assessments. As a result, the Revenue's appeals against the penalty orders were dismissed, aligning with the decision in the cited case law. Case-Laws Income Tax Thu, 18 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438031