https://www.taxtmi.com/caselaws?id=270929 The tribunal dismissed the appeal, upholding the CIT(A)'s decision to delete the penalty under section 271(1)(c) for the assessment year 2005-06. The tribunal relied on legal precedents from the Delhi High Court and the Supreme Court, concluding that penalties cannot be imposed when the tax liability remains unchanged after concealment is discovered. The tribunal affirmed the CIT(A)'s reasoning and declined to interfere, ultimately supporting the deletion of the penalty. en-us Mon, 28 Dec 2015 00:00:00 +0530 Wed, 20 Jan 2016 05:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270929 The tribunal dismissed the appeal, upholding the CIT(A)'s decision to delete the penalty under section 271(1)(c) for the assessment year 2005-06. The tribunal relied on legal precedents from the Delhi High Court and the Supreme Court, concluding that penalties cannot be imposed when the tax liability remains unchanged after concealment is discovered. The tribunal affirmed the CIT(A)'s reasoning and declined to interfere, ultimately supporting the deletion of the penalty. Case-Laws Income Tax Mon, 28 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270929