https://www.taxtmi.com/caselaws?id=206666 The High Court held that the penalty imposed under Section 271(1)(c) of the Income Tax Act was unwarranted as the assessee had disclosed all necessary materials for the assessment in AY 2002-03. The court found that there was no concealment or furnishing of inaccurate particulars by the assessee. The assessing officer's uncertainty about the taxability until the assessment order indicated that penalizing the assessee was improper. The court ruled in favor of the assessee, concluding that the penalty was unjustified, and the appeal was disposed of with no order as to costs. en-us Tue, 11 Oct 2011 00:00:00 +0530 Mon, 26 Mar 2012 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206666 The High Court held that the penalty imposed under Section 271(1)(c) of the Income Tax Act was unwarranted as the assessee had disclosed all necessary materials for the assessment in AY 2002-03. The court found that there was no concealment or furnishing of inaccurate particulars by the assessee. The assessing officer's uncertainty about the taxability until the assessment order indicated that penalizing the assessee was improper. The court ruled in favor of the assessee, concluding that the penalty was unjustified, and the appeal was disposed of with no order as to costs. Case-Laws Income Tax Tue, 11 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206666