https://www.taxtmi.com/caselaws?id=240696 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for the impugned Assessment Years. The Tribunal dismissed the Revenue's appeals, emphasizing the absence of willful suppression by the assessee regarding Mahumai collections and the legality of excluding them from income. The Tribunal concluded that the mere claim made after search did not automatically warrant a penalty under section 271(1)(c), based on legal precedents and factual considerations. en-us Wed, 30 Jan 2013 00:00:00 +0530 Sat, 07 Dec 2013 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240696 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for the impugned Assessment Years. The Tribunal dismissed the Revenue's appeals, emphasizing the absence of willful suppression by the assessee regarding Mahumai collections and the legality of excluding them from income. The Tribunal concluded that the mere claim made after search did not automatically warrant a penalty under section 271(1)(c), based on legal precedents and factual considerations. Case-Laws Income Tax Wed, 30 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240696