https://www.taxtmi.com/caselaws?id=3778 The HC upheld the ITAT's decision to delete the penalty under Section 158BFA(2) of the Income Tax Act, concluding that the assessee did not deliberately conceal income. The Court determined that the assessee had time to file the return under Section 139(4) and had paid advance tax, rendering the Revenue's appeal meritless. en-us Tue, 25 Mar 2008 00:00:00 +0530 Sun, 22 Dec 2024 08:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3778 The HC upheld the ITAT's decision to delete the penalty under Section 158BFA(2) of the Income Tax Act, concluding that the assessee did not deliberately conceal income. The Court determined that the assessee had time to file the return under Section 139(4) and had paid advance tax, rendering the Revenue's appeal meritless. Case-Laws Income Tax Tue, 25 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3778