https://www.taxtmi.com/caselaws?id=61869 The Appellate Tribunal allowed the revenue's appeals for the assessment years 1980-81 to 1984-85 but dismissed the appeal for the assessment year 1985-86. The Tribunal upheld the Assessing Officer's authority to levy penalties under section 271(1)(c) due to non-disclosure in original returns. It emphasized the Commissioner of Income-tax's power to waive or reduce penalties under section 273A and highlighted the need for the Commissioner's intervention in penalty proceedings. The judgment clarified the roles of the Assessing Officer and the Commissioner in penalty imposition and waiver under the Income-tax Act. en-us Mon, 31 Jan 1994 00:00:00 +0530 Sat, 15 Jan 2011 17:22:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61869 The Appellate Tribunal allowed the revenue's appeals for the assessment years 1980-81 to 1984-85 but dismissed the appeal for the assessment year 1985-86. The Tribunal upheld the Assessing Officer's authority to levy penalties under section 271(1)(c) due to non-disclosure in original returns. It emphasized the Commissioner of Income-tax's power to waive or reduce penalties under section 273A and highlighted the need for the Commissioner's intervention in penalty proceedings. The judgment clarified the roles of the Assessing Officer and the Commissioner in penalty imposition and waiver under the Income-tax Act. Case-Laws Income Tax Mon, 31 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61869