https://www.taxtmi.com/caselaws?id=259033 The tribunal concluded that the penalty under Section 271(1)(c) was not justified as the assessee had fulfilled the conditions under Explanation 5(2). The AO was directed to delete the penalty of Rs. 4,28,043/-. The appeal of the assessee was allowed, and the order was pronounced in the open court on 18/02/2015. en-us Wed, 18 Feb 2015 00:00:00 +0530 Tue, 28 Apr 2015 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259033 The tribunal concluded that the penalty under Section 271(1)(c) was not justified as the assessee had fulfilled the conditions under Explanation 5(2). The AO was directed to delete the penalty of Rs. 4,28,043/-. The appeal of the assessee was allowed, and the order was pronounced in the open court on 18/02/2015. Case-Laws Income Tax Wed, 18 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259033