https://www.taxtmi.com/caselaws?id=334337 The Tribunal held that no penalty under Section 271(1)(c) was applicable as the assessee disclosed all material facts in the return of income, provided bona fide explanations, and did not conceal income. The penalty levied by the Assessing Officer was deleted, and the appeal of the assessee was allowed. The decision was announced on 20th September 2016. en-us Tue, 20 Sep 2016 00:00:00 +0530 Thu, 10 Nov 2016 17:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334337 The Tribunal held that no penalty under Section 271(1)(c) was applicable as the assessee disclosed all material facts in the return of income, provided bona fide explanations, and did not conceal income. The penalty levied by the Assessing Officer was deleted, and the appeal of the assessee was allowed. The decision was announced on 20th September 2016. Case-Laws Income Tax Tue, 20 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334337