https://www.taxtmi.com/caselaws?id=153307 The Tribunal and Court dismissed the penalty imposition under Section 271(1)(c) for concealing income related to enhanced compensation for land acquisition. They found no intention to suppress taxable income due to ongoing disputes over taxability, timing of legal precedents, and assessment completion before relevant Supreme Court judgments. The Court emphasized that the appellant could not have intended to conceal income based on subsequent legal developments, leading to the dismissal of the appeals. en-us Thu, 15 Jul 2010 00:00:00 +0530 Wed, 01 Oct 2014 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153307 The Tribunal and Court dismissed the penalty imposition under Section 271(1)(c) for concealing income related to enhanced compensation for land acquisition. They found no intention to suppress taxable income due to ongoing disputes over taxability, timing of legal precedents, and assessment completion before relevant Supreme Court judgments. The Court emphasized that the appellant could not have intended to conceal income based on subsequent legal developments, leading to the dismissal of the appeals. Case-Laws Income Tax Thu, 15 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153307