https://www.taxtmi.com/caselaws?id=70006 The Tribunal ruled in favor of the assessee, a registered firm, in appeals against penalties imposed under sections 271(1)(c) and 271(1)(a) for the assessment years 1983-84 and 1984-85. The penalties for concealment of income were not upheld due to the legal position at the time of the offense and the fulfillment of conditions for waiver by the assessee. The Tribunal justified canceling the penalties to prevent subjecting the assessee to a greater punishment than what was in force when the offense occurred. en-us Mon, 04 Mar 1991 00:00:00 +0530 Wed, 13 Apr 2011 14:01:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70006 The Tribunal ruled in favor of the assessee, a registered firm, in appeals against penalties imposed under sections 271(1)(c) and 271(1)(a) for the assessment years 1983-84 and 1984-85. The penalties for concealment of income were not upheld due to the legal position at the time of the offense and the fulfillment of conditions for waiver by the assessee. The Tribunal justified canceling the penalties to prevent subjecting the assessee to a greater punishment than what was in force when the offense occurred. Case-Laws Income Tax Mon, 04 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70006