https://www.taxtmi.com/caselaws?id=201632 The Tribunal dismissed the appeal challenging the penalty under Section 271(1)(c) for the Assessment Year 1999-2000. The penalties for various disallowances were set aside or deleted as the assessee demonstrated full disclosure, no deliberate attempt to conceal income, and bona fide beliefs in treating losses, leading to the respondent-assessee not being liable for penalties under the Income Tax Act. en-us Tue, 28 Sep 2010 00:00:00 +0530 Fri, 21 Jan 2011 23:17:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201632 The Tribunal dismissed the appeal challenging the penalty under Section 271(1)(c) for the Assessment Year 1999-2000. The penalties for various disallowances were set aside or deleted as the assessee demonstrated full disclosure, no deliberate attempt to conceal income, and bona fide beliefs in treating losses, leading to the respondent-assessee not being liable for penalties under the Income Tax Act. Case-Laws Income Tax Tue, 28 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201632