https://www.taxtmi.com/caselaws?id=57638 The tribunal ruled in favor of the assessee, holding that penalty initiation for delays in filing original returns during reassessment, without prior penalty proceedings in original assessments, was impermissible. The penalties imposed under section 271(1)(a) for the assessment years in question were canceled, emphasizing that penalties should have been initiated immediately after the completion of original assessments, not post-revised returns in response to section 148 notices. The appeals filed by the assessee were allowed, leading to the cancellation of the penalties. en-us Wed, 17 Jan 1996 00:00:00 +0530 Sat, 11 Dec 2010 12:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57638 The tribunal ruled in favor of the assessee, holding that penalty initiation for delays in filing original returns during reassessment, without prior penalty proceedings in original assessments, was impermissible. The penalties imposed under section 271(1)(a) for the assessment years in question were canceled, emphasizing that penalties should have been initiated immediately after the completion of original assessments, not post-revised returns in response to section 148 notices. The appeals filed by the assessee were allowed, leading to the cancellation of the penalties. Case-Laws Income Tax Wed, 17 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57638