https://www.taxtmi.com/caselaws?id=71947 The Tribunal dismissed both Revenue's appeals, affirming the CIT(A)'s deletion of penalties under section 271(1)(c) for two assessees. Emphasizing the assessees' genuine beliefs, voluntary disclosures, and lack of intentional income concealment, the judgment highlighted the significance of these factors in penalty determinations for tax offenses. en-us Fri, 14 Mar 2008 00:00:00 +0530 Thu, 28 Apr 2011 12:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71947 The Tribunal dismissed both Revenue's appeals, affirming the CIT(A)'s deletion of penalties under section 271(1)(c) for two assessees. Emphasizing the assessees' genuine beliefs, voluntary disclosures, and lack of intentional income concealment, the judgment highlighted the significance of these factors in penalty determinations for tax offenses. Case-Laws Income Tax Fri, 14 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71947