https://www.taxtmi.com/caselaws?id=214163 The Tribunal upheld the CIT(A) order deleting the penalty under section 271(1)(c) of the Income Tax Act, 1961. It concluded that the surrender made by the assessee was voluntary and conditional, not warranting penalty imposition. The department's appeal challenging the deletion of the penalty was dismissed due to the lack of superior court decisions supporting their argument. The decision was based on established legal principles that a conditional surrender does not attract penalty proceedings, leading to the preservation of the CIT(A) order. en-us Fri, 24 Feb 2012 00:00:00 +0530 Mon, 18 Apr 2016 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214163 The Tribunal upheld the CIT(A) order deleting the penalty under section 271(1)(c) of the Income Tax Act, 1961. It concluded that the surrender made by the assessee was voluntary and conditional, not warranting penalty imposition. The department's appeal challenging the deletion of the penalty was dismissed due to the lack of superior court decisions supporting their argument. The decision was based on established legal principles that a conditional surrender does not attract penalty proceedings, leading to the preservation of the CIT(A) order. Case-Laws Income Tax Fri, 24 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214163