https://www.taxtmi.com/caselaws?id=208656 The Tribunal allowed the appeal of the assessee, holding that the penalty imposed under section 271(1)(c) was not sustainable. The assessment based on the disclosure in the Settlement Commission application was invalid as the application for the assessment year 2005-06 was not admitted. Consequently, the use of confidential information from the Settlement Commission application by the Assessing Officer was not permissible. The Tribunal also emphasized that the penalty imposition was not justified, drawing parallels with the Sudarshan Silk and Sarees case. en-us Thu, 21 Jan 2010 00:00:00 +0530 Tue, 14 Aug 2012 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208656 The Tribunal allowed the appeal of the assessee, holding that the penalty imposed under section 271(1)(c) was not sustainable. The assessment based on the disclosure in the Settlement Commission application was invalid as the application for the assessment year 2005-06 was not admitted. Consequently, the use of confidential information from the Settlement Commission application by the Assessing Officer was not permissible. The Tribunal also emphasized that the penalty imposition was not justified, drawing parallels with the Sudarshan Silk and Sarees case. Case-Laws Income Tax Thu, 21 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208656