https://www.taxtmi.com/caselaws?id=331748 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision that the penalty under Section 271(1)(c) could not be imposed on the assessee. The court emphasized that specific grounds are required for levying such penalties, highlighting that the timing of the disclosure after a survey operation does not automatically warrant a penalty if the return was filed within the statutory timeline and no additions were made by the Assessing Officer. en-us Mon, 22 Aug 2016 00:00:00 +0530 Thu, 01 Sep 2016 14:05:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331748 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision that the penalty under Section 271(1)(c) could not be imposed on the assessee. The court emphasized that specific grounds are required for levying such penalties, highlighting that the timing of the disclosure after a survey operation does not automatically warrant a penalty if the return was filed within the statutory timeline and no additions were made by the Assessing Officer. Case-Laws Income Tax Mon, 22 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331748