https://www.taxtmi.com/caselaws?id=71244 The Tribunal upheld the CIT(A)'s decision, ruling that the penalty under section 271(1)(c) of the Income Tax Act was unjustified. The provisional return filed by the assessee due to the seizure of books was deemed valid, and the final return filed was considered the legitimate return. The additions made by the Assessing Officer were not found to indicate concealment of income. The Tribunal dismissed both appeals by the Department, affirming that the penalty deletion was appropriate. en-us Thu, 21 Jan 1999 00:00:00 +0530 Fri, 22 Apr 2011 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71244 The Tribunal upheld the CIT(A)'s decision, ruling that the penalty under section 271(1)(c) of the Income Tax Act was unjustified. The provisional return filed by the assessee due to the seizure of books was deemed valid, and the final return filed was considered the legitimate return. The additions made by the Assessing Officer were not found to indicate concealment of income. The Tribunal dismissed both appeals by the Department, affirming that the penalty deletion was appropriate. Case-Laws Income Tax Thu, 21 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71244