https://www.taxtmi.com/caselaws?id=57052 The CIT(A) confirmed a penalty under section 271B against the appellant, who challenged the penalty on various grounds. Despite the appellant's arguments, the CIT(A) upheld the penalty, finding the explanations inadequate. The Tribunal allowed the appeal on an additional ground related to the limitation for imposing penalties under the Income-tax Act, determining that the penalty imposed by the Assessing Officer was invalid due to exceeding the prescribed time frame. Consequently, the Tribunal canceled the penalty under section 271B. en-us Thu, 24 Sep 1998 00:00:00 +0530 Wed, 08 Dec 2010 11:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57052 The CIT(A) confirmed a penalty under section 271B against the appellant, who challenged the penalty on various grounds. Despite the appellant's arguments, the CIT(A) upheld the penalty, finding the explanations inadequate. The Tribunal allowed the appeal on an additional ground related to the limitation for imposing penalties under the Income-tax Act, determining that the penalty imposed by the Assessing Officer was invalid due to exceeding the prescribed time frame. Consequently, the Tribunal canceled the penalty under section 271B. Case-Laws Income Tax Thu, 24 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57052