https://www.taxtmi.com/caselaws?id=78086 The High Court upheld the decision to cancel the penalty imposed under section 271(1)(c) based on the explanation provided by the assessee and the valuation accepted by the Departmental Valuation Officer. The court found no grounds to interfere with the concurrent findings of fact by the appellate authority and the Tribunal, ultimately ruling in favor of the assessee and dismissing the appeal filed by the Revenue. en-us Fri, 06 Nov 2009 00:00:00 +0530 Fri, 29 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78086 The High Court upheld the decision to cancel the penalty imposed under section 271(1)(c) based on the explanation provided by the assessee and the valuation accepted by the Departmental Valuation Officer. The court found no grounds to interfere with the concurrent findings of fact by the appellate authority and the Tribunal, ultimately ruling in favor of the assessee and dismissing the appeal filed by the Revenue. Case-Laws Income Tax Fri, 06 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78086