154 results for “penalty u/s 271”+ Disallowanceclear
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disallowed nor any addition has been made, therefore, the very foundation to compute the penalty is extinguished. In this situation, no penalty is imposable upon the assessee. It is pertinent to note that ld. CIT(Appeals) has deleted the penalty. Accordingly, we dismiss the appeals of the Revenue and confirm the deletion of penalties. 14. Now we proceed to take