https://www.taxtmi.com/caselaws?id=340757 The High Court dismissed the Revenue's appeal challenging penalty proceedings under Section 271(1)(c) for Assessment Years 2002-03 and 2003-04. The Court upheld the lower authorities' decisions, emphasizing that the respondent assessee's income was estimated in line with the Tribunal's order post original return filings, and there was no concealment or furnishing of inaccurate particulars. The Court found no substantial question of law, supporting the respondent's actions in filing returns based on the Tribunal's future income determination. The appeal was dismissed without costs. en-us Mon, 20 Mar 2017 00:00:00 +0530 Mon, 27 Mar 2017 07:44:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340757 The High Court dismissed the Revenue's appeal challenging penalty proceedings under Section 271(1)(c) for Assessment Years 2002-03 and 2003-04. The Court upheld the lower authorities' decisions, emphasizing that the respondent assessee's income was estimated in line with the Tribunal's order post original return filings, and there was no concealment or furnishing of inaccurate particulars. The Court found no substantial question of law, supporting the respondent's actions in filing returns based on the Tribunal's future income determination. The appeal was dismissed without costs. Case-Laws Income Tax Mon, 20 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340757