https://www.taxtmi.com/caselaws?id=207754 The Tribunal allowed the assessee's appeals, deleting the penalties imposed for Assessment Years 2002-03 and 2003-04 under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found that the additional income disclosed was not free from dispute regarding ownership and the correct assessment years, concluding that the penalties were not justified. The penalties imposed by the Assessing Officer and confirmed by the CIT(A) were overturned. en-us Wed, 16 Mar 2011 00:00:00 +0530 Mon, 11 Jul 2011 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207754 The Tribunal allowed the assessee's appeals, deleting the penalties imposed for Assessment Years 2002-03 and 2003-04 under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found that the additional income disclosed was not free from dispute regarding ownership and the correct assessment years, concluding that the penalties were not justified. The penalties imposed by the Assessing Officer and confirmed by the CIT(A) were overturned. Case-Laws Income Tax Wed, 16 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207754