https://www.taxtmi.com/caselaws?id=71733 The Appellate Tribunal ITAT Pune allowed the appeal, overturning the penalty imposed by the IAC for concealment of income or furnishing inaccurate particulars. The Tribunal held that there was no evidence of wilful neglect or concealment by the assessee, determining the penalties were unjustified. Additionally, the Tribunal found the IAC lacked jurisdiction to levy penalties post-amendment, deeming the IAC's order without jurisdiction and vacating it. en-us Sat, 22 Aug 1981 00:00:00 +0530 Tue, 26 Apr 2011 17:46:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71733 The Appellate Tribunal ITAT Pune allowed the appeal, overturning the penalty imposed by the IAC for concealment of income or furnishing inaccurate particulars. The Tribunal held that there was no evidence of wilful neglect or concealment by the assessee, determining the penalties were unjustified. Additionally, the Tribunal found the IAC lacked jurisdiction to levy penalties post-amendment, deeming the IAC's order without jurisdiction and vacating it. Case-Laws Income Tax Sat, 22 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71733