https://www.taxtmi.com/caselaws?id=257682 The High Court upheld the Tribunal's decision to delete a penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the respondent-assessee's disclosure of facts and bonafide claim regarding a disputed receipt were complete and genuine. The Court distinguished the case from relevant legal precedents cited by the Revenue, concluding that no penalty should be imposed due to the absence of a substantial question of law. The appeal was dismissed without costs. en-us Tue, 03 Mar 2015 00:00:00 +0530 Thu, 19 Mar 2015 07:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257682 The High Court upheld the Tribunal's decision to delete a penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the respondent-assessee's disclosure of facts and bonafide claim regarding a disputed receipt were complete and genuine. The Court distinguished the case from relevant legal precedents cited by the Revenue, concluding that no penalty should be imposed due to the absence of a substantial question of law. The appeal was dismissed without costs. Case-Laws Income Tax Tue, 03 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257682