https://www.taxtmi.com/caselaws?id=63710 The penalty imposed on the respondent under section 271(1)(c) by the Income Tax Officer was cancelled by the Commissioner of Income Tax (Appeals) [CIT(A)]. The penalty was based on discrepancies in income declared in a revised return following assessment proceedings. The CIT(A) found no evidence of concealment or deliberate intention, as the disputed income was disclosed in earlier years. The Appellate Tribunal upheld the CIT(A)'s decision, emphasizing the absence of mala fide intentions and the complete disclosure of relevant facts, leading to the dismissal of the appeal. The penalty under section 271(1)(c) was deemed unjustified and subsequently cancelled. en-us Wed, 27 May 1992 00:00:00 +0530 Tue, 01 Feb 2011 14:31:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63710 The penalty imposed on the respondent under section 271(1)(c) by the Income Tax Officer was cancelled by the Commissioner of Income Tax (Appeals) [CIT(A)]. The penalty was based on discrepancies in income declared in a revised return following assessment proceedings. The CIT(A) found no evidence of concealment or deliberate intention, as the disputed income was disclosed in earlier years. The Appellate Tribunal upheld the CIT(A)'s decision, emphasizing the absence of mala fide intentions and the complete disclosure of relevant facts, leading to the dismissal of the appeal. The penalty under section 271(1)(c) was deemed unjustified and subsequently cancelled. Case-Laws Income Tax Wed, 27 May 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63710