https://www.taxtmi.com/caselaws?id=62494 The Tribunal concluded that the penalties imposed under Section 271(1)(c) of the IT Act for concealment of income were inappropriate. Despite the appellant's admission of income, the penalties were deemed unwarranted after considering the arguments and relevant case law. The penalties imposed by the Income Tax Officer and confirmed by the Commissioner of Income Tax (Appeals) were cancelled, and the appeals were allowed. en-us Thu, 16 Nov 1989 00:00:00 +0530 Thu, 20 Jan 2011 10:48:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62494 The Tribunal concluded that the penalties imposed under Section 271(1)(c) of the IT Act for concealment of income were inappropriate. Despite the appellant's admission of income, the penalties were deemed unwarranted after considering the arguments and relevant case law. The penalties imposed by the Income Tax Officer and confirmed by the Commissioner of Income Tax (Appeals) were cancelled, and the appeals were allowed. Case-Laws Income Tax Thu, 16 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62494