https://www.taxtmi.com/caselaws?id=60477 The Tribunal upheld the deletion of penalties under sections 271(1)(b), 273, and 271(1)(c) of the Income-tax Act, 1961. It ruled in favor of the assessee, a minor, stating that penalties were improperly cancelled based on an application under section 146 that was not acted upon within 90 days. The Tribunal emphasized the mandatory disposal timeline for section 146 applications and held that penalties on a protective assessment were unjustified. Legal precedent was cited to support the decision that protective penalties are impermissible under the Income-tax Act, leading to the dismissal of the revenue's appeals. en-us Thu, 07 Nov 1991 00:00:00 +0530 Wed, 05 Jan 2011 15:13:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60477 The Tribunal upheld the deletion of penalties under sections 271(1)(b), 273, and 271(1)(c) of the Income-tax Act, 1961. It ruled in favor of the assessee, a minor, stating that penalties were improperly cancelled based on an application under section 146 that was not acted upon within 90 days. The Tribunal emphasized the mandatory disposal timeline for section 146 applications and held that penalties on a protective assessment were unjustified. Legal precedent was cited to support the decision that protective penalties are impermissible under the Income-tax Act, leading to the dismissal of the revenue's appeals. Case-Laws Income Tax Thu, 07 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60477