https://www.taxtmi.com/caselaws?id=333957 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order for Assessment Year 2005-06. The Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act, emphasizing that penalties should be based on the grounds for initiation and not introduced during the appeal process. The Court found no inaccurate particulars or income concealment justifying the penalty, concluding that the penalty imposition was not warranted based on the facts presented. en-us Mon, 17 Oct 2016 00:00:00 +0530 Fri, 28 Oct 2016 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333957 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order for Assessment Year 2005-06. The Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act, emphasizing that penalties should be based on the grounds for initiation and not introduced during the appeal process. The Court found no inaccurate particulars or income concealment justifying the penalty, concluding that the penalty imposition was not warranted based on the facts presented. Case-Laws Income Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333957