https://www.taxtmi.com/caselaws?id=64138 The Income Tax Appellate Tribunal (ITAT) canceled the penalty of Rs. 11,000 imposed under section 271(1)(c) of the Income Tax Act, 1961. The ITAT found no evidence of concealment by the assessee, noting that the voluntarily surrendered amount was declared before any concealment was established. As a result, the ITAT allowed the appeal, determining that the assessee was not guilty of concealment and thus nullifying the penalty. The jurisdictional issue regarding the ITAT's authority was not addressed due to the finding of no concealment. en-us Wed, 03 Dec 1980 00:00:00 +0530 Sat, 05 Feb 2011 10:34:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64138 The Income Tax Appellate Tribunal (ITAT) canceled the penalty of Rs. 11,000 imposed under section 271(1)(c) of the Income Tax Act, 1961. The ITAT found no evidence of concealment by the assessee, noting that the voluntarily surrendered amount was declared before any concealment was established. As a result, the ITAT allowed the appeal, determining that the assessee was not guilty of concealment and thus nullifying the penalty. The jurisdictional issue regarding the ITAT's authority was not addressed due to the finding of no concealment. Case-Laws Income Tax Wed, 03 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64138