https://www.taxtmi.com/caselaws?id=179424 The Tribunal allowed the appeals for A.Ys. 2005-06 & 2006-07, holding that no penalty was leviable under Section 271(1)(c) due to assessment under Section 115JB and the absence of tax evasion. The penalty was deleted as concealment under Section 271(1)(c) could not be imposed when assessed under Section 115JB, based on legal precedent and lack of contrary decisions presented by the Revenue. en-us Fri, 04 Oct 2013 00:00:00 +0530 Fri, 04 Nov 2016 14:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179424 The Tribunal allowed the appeals for A.Ys. 2005-06 & 2006-07, holding that no penalty was leviable under Section 271(1)(c) due to assessment under Section 115JB and the absence of tax evasion. The penalty was deleted as concealment under Section 271(1)(c) could not be imposed when assessed under Section 115JB, based on legal precedent and lack of contrary decisions presented by the Revenue. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179424