https://www.taxtmi.com/caselaws?id=311125 The Tribunal allowed the appeal, deleting the penalty imposed under section 271D of the Income Tax Act, 1961, due to flawed initiation of penalty proceedings and lack of legal basis. The penalty was based on an assessment order that was no longer in effect, rendering it unjustifiable. The Tribunal found no contravention of section 269SS in the original assessment order, and the subsequent order did not survive legal scrutiny. The decision relied on the independence of penalty proceedings and the applicability of previous Tribunal judgments, concluding that the penalty imposition was invalid. en-us Fri, 19 Feb 2016 00:00:00 +0530 Sat, 09 Dec 2023 08:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311125 The Tribunal allowed the appeal, deleting the penalty imposed under section 271D of the Income Tax Act, 1961, due to flawed initiation of penalty proceedings and lack of legal basis. The penalty was based on an assessment order that was no longer in effect, rendering it unjustifiable. The Tribunal found no contravention of section 269SS in the original assessment order, and the subsequent order did not survive legal scrutiny. The decision relied on the independence of penalty proceedings and the applicability of previous Tribunal judgments, concluding that the penalty imposition was invalid. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311125