https://www.taxtmi.com/caselaws?id=179363 The High Court of Bombay, with Judges R. S. Radhakrishnan & J.H. Bhatia, upheld the Tribunal's decision to delete the penalty under section 271(1)(c) as the finally assessed income was a loss. The court relied on the precedent set by the Supreme Court in Commissioner of Income Tax Vs. Prithipal Singh and Co. 249 ITR 670, concluding in favor of the Respondent and disposing of the appeal against the Revenue. en-us Mon, 25 Jul 2005 00:00:00 +0530 Sat, 27 Feb 2016 10:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179363 The High Court of Bombay, with Judges R. S. Radhakrishnan & J.H. Bhatia, upheld the Tribunal's decision to delete the penalty under section 271(1)(c) as the finally assessed income was a loss. The court relied on the precedent set by the Supreme Court in Commissioner of Income Tax Vs. Prithipal Singh and Co. 249 ITR 670, concluding in favor of the Respondent and disposing of the appeal against the Revenue. Case-Laws Income Tax Mon, 25 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179363