https://www.taxtmi.com/caselaws?id=185959 The High Court held that the Tribunal erred in canceling the penalty imposed under section 271(1)(c) of the Income-tax Act. The Court emphasized the necessity of considering all relevant provisions and explanations, ruling that the clause deeming concealed income applied in this case. The judgment highlights the significance of thorough assessment and adherence to statutory requirements in penalty proceedings. en-us Wed, 17 Jan 2007 00:00:00 +0530 Sat, 03 Sep 2016 13:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185959 The High Court held that the Tribunal erred in canceling the penalty imposed under section 271(1)(c) of the Income-tax Act. The Court emphasized the necessity of considering all relevant provisions and explanations, ruling that the clause deeming concealed income applied in this case. The judgment highlights the significance of thorough assessment and adherence to statutory requirements in penalty proceedings. Case-Laws Income Tax Wed, 17 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185959