468 results for “penalty u/s 271”+ Section 143(2)clear
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Appeals are allowed
Bench: Shri Vijay Pal Rao & Shri B.M. Biyani
2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the penalty notice under Section 274 r.w.s. 271(1)(c) is bad in law and invalid despite the amendment of Section 271(1B) with retrospective effect and by virtue of the amendment, the assessing officer has initiated the penalty