https://www.taxtmi.com/caselaws?id=237319 The High Court dismissed the income tax appeal, upholding the ITAT's decision to delete the penalty imposed under Section 271-1C. The court aligned with the Delhi High Court's judgment, emphasizing that in cases of MAT companies assessed under Section 115-JB, concealment does not result in tax evasion, therefore, the penalty was not justified. The Supreme Court also supported this reasoning, leading to the dismissal of the appeal. en-us Wed, 04 Sep 2013 00:00:00 +0530 Wed, 25 Sep 2013 07:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237319 The High Court dismissed the income tax appeal, upholding the ITAT's decision to delete the penalty imposed under Section 271-1C. The court aligned with the Delhi High Court's judgment, emphasizing that in cases of MAT companies assessed under Section 115-JB, concealment does not result in tax evasion, therefore, the penalty was not justified. The Supreme Court also supported this reasoning, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 04 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237319