https://www.taxtmi.com/caselaws?id=63672 The Appellate Tribunal ITAT DELHI-B allowed the appeal, canceling the penalty imposed on the assessee under section 271(1)(c) of the IT Act, 1961. The Tribunal emphasized the necessity of proving mens rea for penalty imposition and the burden on the assessing officer to provide substantial evidence to establish such intent. The judgment underscored that ignorance of law does not excuse statutory default but acknowledged the requirement for the assessee to demonstrate a preponderance of probabilities to avoid penalty imposition. The Tribunal found the assessing officer failed to prove mens rea, leading to the penalty cancellation. en-us Wed, 09 Jul 1986 00:00:00 +0530 Tue, 01 Feb 2011 12:54:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63672 The Appellate Tribunal ITAT DELHI-B allowed the appeal, canceling the penalty imposed on the assessee under section 271(1)(c) of the IT Act, 1961. The Tribunal emphasized the necessity of proving mens rea for penalty imposition and the burden on the assessing officer to provide substantial evidence to establish such intent. The judgment underscored that ignorance of law does not excuse statutory default but acknowledged the requirement for the assessee to demonstrate a preponderance of probabilities to avoid penalty imposition. The Tribunal found the assessing officer failed to prove mens rea, leading to the penalty cancellation. Case-Laws Income Tax Wed, 09 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63672