https://www.taxtmi.com/caselaws?id=69263 The Tribunal canceled the penalty of Rs. 35,000 levied under Section 271(1)(c) of the IT Act, finding that the appellant had not acted with gross or willful neglect. The Tribunal held that the appellant had provided sufficient evidence and had not intended to conceal income or provide inaccurate particulars. The penalty was overturned, and the appellant was directed to be refunded any amount already collected. en-us Mon, 12 Mar 1979 00:00:00 +0530 Mon, 13 Jun 2011 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69263 The Tribunal canceled the penalty of Rs. 35,000 levied under Section 271(1)(c) of the IT Act, finding that the appellant had not acted with gross or willful neglect. The Tribunal held that the appellant had provided sufficient evidence and had not intended to conceal income or provide inaccurate particulars. The penalty was overturned, and the appellant was directed to be refunded any amount already collected. Case-Laws Income Tax Mon, 12 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69263