https://www.taxtmi.com/caselaws?id=249061 The High Court overturned the Income Tax Appellate Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act for the Assessment Year 1995-96. The Court emphasized that the mere admission of a Tax Appeal does not automatically justify penalty cancellation, requiring further reasons to support such a decision. The matter was remanded for fresh consideration, highlighting the need for additional grounds beyond the admission of an appeal to warrant penalty deletion. en-us Mon, 09 Jun 2014 00:00:00 +0530 Thu, 21 Aug 2014 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249061 The High Court overturned the Income Tax Appellate Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act for the Assessment Year 1995-96. The Court emphasized that the mere admission of a Tax Appeal does not automatically justify penalty cancellation, requiring further reasons to support such a decision. The matter was remanded for fresh consideration, highlighting the need for additional grounds beyond the admission of an appeal to warrant penalty deletion. Case-Laws Income Tax Mon, 09 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249061