https://www.taxtmi.com/caselaws?id=216142 The court held that the Income Tax Appellate Tribunal (ITAT) can uphold the penalty under the main provision of Section 271(1)(c) even if the initiation and levy of penalty were under Explanation 5, as long as the conditions for penalty under Section 271(1)(c) are satisfied. Additionally, the court found that the ITAT erred in not delving into the merits of the case, emphasizing the necessity of considering individual facts and circumstances. Consequently, the appeals were either dismissed or allowed, with the court ruling in favor of the revenue on the legal questions presented. en-us Thu, 23 Aug 2012 00:00:00 +0530 Tue, 17 Nov 2015 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216142 The court held that the Income Tax Appellate Tribunal (ITAT) can uphold the penalty under the main provision of Section 271(1)(c) even if the initiation and levy of penalty were under Explanation 5, as long as the conditions for penalty under Section 271(1)(c) are satisfied. Additionally, the court found that the ITAT erred in not delving into the merits of the case, emphasizing the necessity of considering individual facts and circumstances. Consequently, the appeals were either dismissed or allowed, with the court ruling in favor of the revenue on the legal questions presented. Case-Laws Income Tax Thu, 23 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216142