https://www.taxtmi.com/caselaws?id=333861 The Tribunal found that the penalty under Section 271(1)(c) of the Income Tax Act was not justified as the disclosed income was accepted without discrepancies and the notice under Section 148 was issued within the permissible time frame. Therefore, the penalty of Rs. 2,50,000/- was deleted, and the appeal was allowed. en-us Thu, 01 Sep 2016 00:00:00 +0530 Wed, 26 Oct 2016 09:48:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333861 The Tribunal found that the penalty under Section 271(1)(c) of the Income Tax Act was not justified as the disclosed income was accepted without discrepancies and the notice under Section 148 was issued within the permissible time frame. Therefore, the penalty of Rs. 2,50,000/- was deleted, and the appeal was allowed. Case-Laws Income Tax Thu, 01 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333861