https://www.taxtmi.com/caselaws?id=65519 The Tribunal partially allowed the Department's appeal concerning penalty imposition under section 271(1)(c) of the Income-tax Act. It overturned the CIT(A)'s decision and reinstated the Assessing Officer's penalty, albeit at the minimum chargeable rate. The Tribunal found that the assessee's conduct, including failure to surrender incorrect claims promptly, demonstrated a mala fide intention. Despite the argument that the false claims were made by the counsel, the Tribunal held the assessee accountable, emphasizing the involvement of the counsel in the penalty imposition. en-us Thu, 15 Feb 2007 00:00:00 +0530 Wed, 16 Feb 2011 13:02:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65519 The Tribunal partially allowed the Department's appeal concerning penalty imposition under section 271(1)(c) of the Income-tax Act. It overturned the CIT(A)'s decision and reinstated the Assessing Officer's penalty, albeit at the minimum chargeable rate. The Tribunal found that the assessee's conduct, including failure to surrender incorrect claims promptly, demonstrated a mala fide intention. Despite the argument that the false claims were made by the counsel, the Tribunal held the assessee accountable, emphasizing the involvement of the counsel in the penalty imposition. Case-Laws Income Tax Thu, 15 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65519