https://www.taxtmi.com/caselaws?id=55931 The Tribunal dismissed the Revenue's appeals and affirmed the cancellation of penalties by the CIT(A) for the assessment years 1983-84 and 1984-85. The Tribunal held that the penalties imposed by the ITO under section 271(1)(a) were not justified due to the absence of taxable income triggering penalty provisions, considering the exemptions under sections 10(22) and 11 of the IT Act, 1961. en-us Fri, 17 Jul 1992 00:00:00 +0530 Tue, 30 Nov 2010 16:58:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55931 The Tribunal dismissed the Revenue's appeals and affirmed the cancellation of penalties by the CIT(A) for the assessment years 1983-84 and 1984-85. The Tribunal held that the penalties imposed by the ITO under section 271(1)(a) were not justified due to the absence of taxable income triggering penalty provisions, considering the exemptions under sections 10(22) and 11 of the IT Act, 1961. Case-Laws Income Tax Fri, 17 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55931