https://www.taxtmi.com/caselaws?id=4490 The High Court affirmed the Tribunal's decision that the assessee's actions were bona fide and there was no concealment of income or material facts. The court held that the penalty under section 271(1)(c) of the Income-tax Act was not justified as there was no intent to deceive the authorities. The appeal was dismissed, and costs were awarded to the assessee. en-us Mon, 10 Jul 2006 00:00:00 +0530 Sat, 26 Jul 2008 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4490 The High Court affirmed the Tribunal's decision that the assessee's actions were bona fide and there was no concealment of income or material facts. The court held that the penalty under section 271(1)(c) of the Income-tax Act was not justified as there was no intent to deceive the authorities. The appeal was dismissed, and costs were awarded to the assessee. Case-Laws Income Tax Mon, 10 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4490