https://www.taxtmi.com/caselaws?id=178299 The tribunal concluded that the penalty under Section 271(1)(c) was not justified. The explanations provided by the assessee were not conclusively disproven, and the surrender was made with the condition of no penalty imposition. The tribunal allowed the appeal, deleting the penalty imposed by the Assessing Officer and upheld by the CIT(A). en-us Tue, 31 Dec 2013 00:00:00 +0530 Wed, 10 Aug 2016 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178299 The tribunal concluded that the penalty under Section 271(1)(c) was not justified. The explanations provided by the assessee were not conclusively disproven, and the surrender was made with the condition of no penalty imposition. The tribunal allowed the appeal, deleting the penalty imposed by the Assessing Officer and upheld by the CIT(A). Case-Laws Income Tax Tue, 31 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178299