https://www.taxtmi.com/caselaws?id=10660 The High Court dismissed the appeal by the Commissioner of Income-tax regarding the imposition of a penalty under section 271(1)(c) of the Income-tax Act on a limited company for non-disclosure of "cash compensatory support" in their return for the assessment year 1989-90. The court found the assessee's explanation for non-disclosure justified, emphasizing full disclosure, legal justifications, and absence of deliberate suppression. The court held that the original return's disclosure sufficed, rejecting the argument for penalty based on non-filing of a revised return. The judgment highlighted the importance of valid explanations and adherence to legal provisions in tax matters, ruling in favor of the assessee. en-us Tue, 03 May 2005 00:00:00 +0530 Tue, 21 Jul 2009 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10660 The High Court dismissed the appeal by the Commissioner of Income-tax regarding the imposition of a penalty under section 271(1)(c) of the Income-tax Act on a limited company for non-disclosure of "cash compensatory support" in their return for the assessment year 1989-90. The court found the assessee's explanation for non-disclosure justified, emphasizing full disclosure, legal justifications, and absence of deliberate suppression. The court held that the original return's disclosure sufficed, rejecting the argument for penalty based on non-filing of a revised return. The judgment highlighted the importance of valid explanations and adherence to legal provisions in tax matters, ruling in favor of the assessee. Case-Laws Income Tax Tue, 03 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10660