https://www.taxtmi.com/caselaws?id=78541 The High Court upheld the decisions of the CIT(A) and the Tribunal, ruling that the delay in investment did not constitute concealment of income. Consequently, the penalty under Section 271(1)(c) of the Income Tax Act was correctly deleted, as the assessee had disclosed all relevant facts and no malafides were found. The appeal by the revenue was dismissed as no substantial question of law arose due to the absence of concealment of income. en-us Mon, 22 Nov 2010 00:00:00 +0530 Thu, 25 Nov 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78541 The High Court upheld the decisions of the CIT(A) and the Tribunal, ruling that the delay in investment did not constitute concealment of income. Consequently, the penalty under Section 271(1)(c) of the Income Tax Act was correctly deleted, as the assessee had disclosed all relevant facts and no malafides were found. The appeal by the revenue was dismissed as no substantial question of law arose due to the absence of concealment of income. Case-Laws Income Tax Mon, 22 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78541