https://www.taxtmi.com/caselaws?id=70785 The case involved penalties imposed under section 271(1)(c) of the Income-tax Act for assessment years 1983-84 to 1986-87. The CIT (Appeals) canceled the penalties citing procedural lapses and a tacit understanding between the assessee and the Department. The Department argued against the cancellation, emphasizing the lack of justification and supporting evidence. The assessee contended that no incriminating material was found, commission rates were variable, and income was offered to avoid prolonged litigation. The judgment upheld the CIT (Appeals) orders, dismissing the appeals and canceling the penalties imposed by the Assessing Officer. en-us Fri, 20 Aug 1993 00:00:00 +0530 Tue, 19 Apr 2011 12:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70785 The case involved penalties imposed under section 271(1)(c) of the Income-tax Act for assessment years 1983-84 to 1986-87. The CIT (Appeals) canceled the penalties citing procedural lapses and a tacit understanding between the assessee and the Department. The Department argued against the cancellation, emphasizing the lack of justification and supporting evidence. The assessee contended that no incriminating material was found, commission rates were variable, and income was offered to avoid prolonged litigation. The judgment upheld the CIT (Appeals) orders, dismissing the appeals and canceling the penalties imposed by the Assessing Officer. Case-Laws Income Tax Fri, 20 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70785