https://www.taxtmi.com/caselaws?id=184385 The ITAT Mumbai directed the AO to delete the penalty imposed on the housing cooperative society, as the Tribunal found no conscious act of concealing income particulars. The penalty under section 271(1)(c) of the I.T. Act for assessment year 2005-06 was set aside, following a previous tribunal decision with similar circumstances. The appeal of the assessee was allowed, and the penalty was canceled on December 16, 2015. en-us Wed, 16 Dec 2015 00:00:00 +0530 Thu, 07 Jul 2016 11:28:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184385 The ITAT Mumbai directed the AO to delete the penalty imposed on the housing cooperative society, as the Tribunal found no conscious act of concealing income particulars. The penalty under section 271(1)(c) of the I.T. Act for assessment year 2005-06 was set aside, following a previous tribunal decision with similar circumstances. The appeal of the assessee was allowed, and the penalty was canceled on December 16, 2015. Case-Laws Income Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184385