https://www.taxtmi.com/caselaws?id=65252 The Tribunal upheld the penalty order, allowing the Revenue's appeal. It concluded that penalty proceedings were validly initiated during the assessment proceedings, the assessee was not deprived of an opportunity to be heard, settlement did not preclude penalty imposition, and mens rea and reasonable cause were not relevant for penalty under Section 273(2)(a). en-us Fri, 25 May 2001 00:00:00 +0530 Mon, 14 Feb 2011 14:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65252 The Tribunal upheld the penalty order, allowing the Revenue's appeal. It concluded that penalty proceedings were validly initiated during the assessment proceedings, the assessee was not deprived of an opportunity to be heard, settlement did not preclude penalty imposition, and mens rea and reasonable cause were not relevant for penalty under Section 273(2)(a). Case-Laws Income Tax Fri, 25 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65252