https://www.taxtmi.com/caselaws?id=203724 The ITAT allowed the assessee's appeal, canceling the penalty imposed under Section 271(1)(c) of the Income-tax Act. The ITAT found the assessee's explanation for the non-disclosure of income to be bona fide, with all material facts disclosed. The penalty was deemed unjustified, setting aside the lower authorities' orders and absolving the assessee of the penalty. en-us Tue, 31 Aug 2010 00:00:00 +0530 Tue, 14 Jun 2011 07:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203724 The ITAT allowed the assessee's appeal, canceling the penalty imposed under Section 271(1)(c) of the Income-tax Act. The ITAT found the assessee's explanation for the non-disclosure of income to be bona fide, with all material facts disclosed. The penalty was deemed unjustified, setting aside the lower authorities' orders and absolving the assessee of the penalty. Case-Laws Income Tax Tue, 31 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203724