https://www.taxtmi.com/caselaws?id=456088 The ITAT Pune allowed the assessee's appeals for A.Y. 2010-11 and A.Y. 2012-13, directing the deletion of penalties under section 271B of the Income Tax Act. The Tribunal emphasized the appellant's bona-fide belief concerning turnover calculation, concluding that the penalties were unjustified, thus ruling in favor of the assessee. en-us Tue, 15 Nov 2022 00:00:00 +0530 Thu, 27 Jun 2024 08:51:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456088 The ITAT Pune allowed the assessee's appeals for A.Y. 2010-11 and A.Y. 2012-13, directing the deletion of penalties under section 271B of the Income Tax Act. The Tribunal emphasized the appellant's bona-fide belief concerning turnover calculation, concluding that the penalties were unjustified, thus ruling in favor of the assessee. Case-Laws Income Tax Tue, 15 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456088