https://www.taxtmi.com/caselaws?id=203809 The Tribunal upheld the CIT(A)'s order, deleting penalties under section 271(1)(c) of the Income-tax Act for the assessment years 1999-00 and 2001-02. It found that the assessee had disclosed all material facts, and the disallowances or additions did not warrant penalty imposition. The Tribunal emphasized that the assessee's claims were made in good faith, and there was no intentional suppression of facts, ultimately dismissing the revenue's appeals. en-us Thu, 21 Apr 2011 00:00:00 +0530 Mon, 20 Jun 2011 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203809 The Tribunal upheld the CIT(A)'s order, deleting penalties under section 271(1)(c) of the Income-tax Act for the assessment years 1999-00 and 2001-02. It found that the assessee had disclosed all material facts, and the disallowances or additions did not warrant penalty imposition. The Tribunal emphasized that the assessee's claims were made in good faith, and there was no intentional suppression of facts, ultimately dismissing the revenue's appeals. Case-Laws Income Tax Thu, 21 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203809