https://www.taxtmi.com/caselaws?id=104028 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) on the amount of Rs. 1,21,000 for the sale of stock outside the books of account. The Tribunal found that the penalty was unjustified as the assessee's historical claims were considered, and no concealment of facts occurred, leading to the penalty cancellation. en-us Tue, 31 Aug 1999 00:00:00 +0530 Mon, 27 Feb 2012 13:06:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104028 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) on the amount of Rs. 1,21,000 for the sale of stock outside the books of account. The Tribunal found that the penalty was unjustified as the assessee's historical claims were considered, and no concealment of facts occurred, leading to the penalty cancellation. Case-Laws Income Tax Tue, 31 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104028