https://www.taxtmi.com/caselaws?id=214126 The Tribunal upheld the deletion of penalties imposed under section 271(1)(c) of the Income-tax Act, 1961, for concealed income and undisclosed deposits. The appellate authorities found no intentional concealment of income, supported by explanations for discrepancies in stock valuation and cash credits. The Tribunal emphasized the absence of mens rea for concealment and dismissed the appeal, citing no illegality or perversity in the lower authorities' decisions. en-us Fri, 23 Jul 2010 00:00:00 +0530 Tue, 19 Jun 2012 08:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214126 The Tribunal upheld the deletion of penalties imposed under section 271(1)(c) of the Income-tax Act, 1961, for concealed income and undisclosed deposits. The appellate authorities found no intentional concealment of income, supported by explanations for discrepancies in stock valuation and cash credits. The Tribunal emphasized the absence of mens rea for concealment and dismissed the appeal, citing no illegality or perversity in the lower authorities' decisions. Case-Laws Income Tax Fri, 23 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214126