https://www.taxtmi.com/caselaws?id=217576 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 1991-92. The Court found that the additions made by the assessee were not done with any mala fide intention but were based on genuine circumstances and explanations. The Court concluded that there was no ground for levying the penalty, dismissing the Revenue's appeal and confirming the Tribunal's order. en-us Mon, 01 Oct 2012 00:00:00 +0530 Thu, 18 Oct 2012 23:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217576 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 1991-92. The Court found that the additions made by the assessee were not done with any mala fide intention but were based on genuine circumstances and explanations. The Court concluded that there was no ground for levying the penalty, dismissing the Revenue's appeal and confirming the Tribunal's order. Case-Laws Income Tax Mon, 01 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217576