https://www.taxtmi.com/caselaws?id=70813 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) for concealment of income. The Tribunal found that the penalty proceedings lacked procedural fairness as the assessee was not provided with copies of statements for cross-examination. Additionally, the Tribunal noted an agreement between the assessee and the department to settle the assessment, which was accepted by the AO. As a result, the penalty imposition was deemed unjust and not in accordance with the law, leading to the dismissal of departmental appeals. en-us Mon, 14 Sep 1992 00:00:00 +0530 Tue, 19 Apr 2011 13:46:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70813 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) for concealment of income. The Tribunal found that the penalty proceedings lacked procedural fairness as the assessee was not provided with copies of statements for cross-examination. Additionally, the Tribunal noted an agreement between the assessee and the department to settle the assessment, which was accepted by the AO. As a result, the penalty imposition was deemed unjust and not in accordance with the law, leading to the dismissal of departmental appeals. Case-Laws Income Tax Mon, 14 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70813