https://www.taxtmi.com/caselaws?id=271642 The Tribunal upheld the CIT(A)'s decision to delete the penalty of Rs. 48,60,000/- imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal concluded that the assessee had disclosed all material facts necessary for the computation of total income and that there was no deliberate concealment of income. The appeal filed by the Revenue challenging the deletion of the penalty was dismissed on 13-01-2016. en-us Wed, 13 Jan 2016 00:00:00 +0530 Wed, 10 Feb 2016 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271642 The Tribunal upheld the CIT(A)'s decision to delete the penalty of Rs. 48,60,000/- imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal concluded that the assessee had disclosed all material facts necessary for the computation of total income and that there was no deliberate concealment of income. The appeal filed by the Revenue challenging the deletion of the penalty was dismissed on 13-01-2016. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271642