https://www.taxtmi.com/caselaws?id=176342 The appeal under section 260A of the Income Tax Act challenged the cancellation of a penalty under section 271(1)(c) for Assessment Year 2004-2005. The Income Tax Appellate Tribunal deleted the penalty imposed by the Assessing Officer, citing a Supreme Court decision that incorrect claims do not necessarily constitute concealment of income. As the quantum appeal was allowed and additions were deleted, the basis for the penalty ceased to exist. The appeal was dismissed as it did not raise a substantial question of law in light of the Tribunal's decision. en-us Wed, 05 Sep 2012 00:00:00 +0530 Sat, 19 Dec 2015 16:15:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176342 The appeal under section 260A of the Income Tax Act challenged the cancellation of a penalty under section 271(1)(c) for Assessment Year 2004-2005. The Income Tax Appellate Tribunal deleted the penalty imposed by the Assessing Officer, citing a Supreme Court decision that incorrect claims do not necessarily constitute concealment of income. As the quantum appeal was allowed and additions were deleted, the basis for the penalty ceased to exist. The appeal was dismissed as it did not raise a substantial question of law in light of the Tribunal's decision. Case-Laws Income Tax Wed, 05 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176342