https://www.taxtmi.com/caselaws?id=234326 The Revenue's appeals against the cancellation of penalties under section 158BFA(2) for two assesses were dismissed. In the case of Smt. Shanti Bai Yadav, the Tribunal determined undisclosed income at Rs. 8,45,950, contesting penalty imposition due to lack of opportunity for explanation and incriminating evidence. For Shri Dal Chand Yadav, penalties were canceled based on insufficient evidence and explanations. The judgments highlighted the discretionary nature of penalties under section 158BFA(2) and upheld the cancellations, emphasizing the importance of evidence and proper procedures. en-us Thu, 14 Jul 2011 00:00:00 +0530 Wed, 05 Jun 2013 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234326 The Revenue's appeals against the cancellation of penalties under section 158BFA(2) for two assesses were dismissed. In the case of Smt. Shanti Bai Yadav, the Tribunal determined undisclosed income at Rs. 8,45,950, contesting penalty imposition due to lack of opportunity for explanation and incriminating evidence. For Shri Dal Chand Yadav, penalties were canceled based on insufficient evidence and explanations. The judgments highlighted the discretionary nature of penalties under section 158BFA(2) and upheld the cancellations, emphasizing the importance of evidence and proper procedures. Case-Laws Income Tax Thu, 14 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234326