https://www.taxtmi.com/caselaws?id=69167 The Tribunal, by majority view, allowed the appeal of the assessee, quashing the penalty imposed under Section 271(1)(c) of the Income Tax Act. The decision emphasized the necessity of invoking the Explanation to Section 271(1)(c) at the earliest stage and ensuring that penalty proceedings are conducted in strict compliance with legal provisions and judicial precedents. en-us Thu, 15 Apr 1999 00:00:00 +0530 Thu, 20 Jun 2013 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69167 The Tribunal, by majority view, allowed the appeal of the assessee, quashing the penalty imposed under Section 271(1)(c) of the Income Tax Act. The decision emphasized the necessity of invoking the Explanation to Section 271(1)(c) at the earliest stage and ensuring that penalty proceedings are conducted in strict compliance with legal provisions and judicial precedents. Case-Laws Income Tax Thu, 15 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69167