https://www.taxtmi.com/caselaws?id=64618 The appellate tribunal found that the assessee successfully demonstrated that the failure to report correct income was not due to fraud or wilful neglect. Consequently, the penalty imposed under section 271(1)(c) of the Income Tax Act was deemed unjustified. The tribunal allowed the assessee's appeal, leading to the refund of any penalty amount paid. en-us Fri, 05 Mar 1976 00:00:00 +0530 Wed, 09 Feb 2011 10:30:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64618 The appellate tribunal found that the assessee successfully demonstrated that the failure to report correct income was not due to fraud or wilful neglect. Consequently, the penalty imposed under section 271(1)(c) of the Income Tax Act was deemed unjustified. The tribunal allowed the assessee's appeal, leading to the refund of any penalty amount paid. Case-Laws Income Tax Fri, 05 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64618