https://www.taxtmi.com/caselaws?id=61736 The Tribunal upheld the deletion of penalties for the assessment years 1972-73 and 1973-74 and cancelled the penalty for 1974-75, dismissing the revenue's appeals and allowing the assessee's appeal. The Tribunal emphasized that the errors were bona fide mistakes and not deliberate concealment of income, concluding that penalties under section 271(1)(c) were not justified for any of the assessment years. en-us Wed, 28 Sep 1983 00:00:00 +0530 Sun, 06 Feb 2011 02:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61736 The Tribunal upheld the deletion of penalties for the assessment years 1972-73 and 1973-74 and cancelled the penalty for 1974-75, dismissing the revenue's appeals and allowing the assessee's appeal. The Tribunal emphasized that the errors were bona fide mistakes and not deliberate concealment of income, concluding that penalties under section 271(1)(c) were not justified for any of the assessment years. Case-Laws Income Tax Wed, 28 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61736