https://www.taxtmi.com/caselaws?id=10746 The High Court upheld the decision to cancel the penalty imposed on the assessee under section 271(1)(c) of the Income-tax Act. The court found that the non-disclosure was unintentional and not a deliberate attempt to evade tax. The explanation provided by the assessee, a Government of India undertaking, was accepted by the taxing authorities, leading to the dismissal of the penalty. The court emphasized that deliberate intent to evade tax must be proven for the penalty to apply, which was not the case here. Therefore, the appeal by the Revenue was dismissed, and no costs were awarded. en-us Thu, 27 Jan 2005 00:00:00 +0530 Fri, 24 Jul 2009 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10746 The High Court upheld the decision to cancel the penalty imposed on the assessee under section 271(1)(c) of the Income-tax Act. The court found that the non-disclosure was unintentional and not a deliberate attempt to evade tax. The explanation provided by the assessee, a Government of India undertaking, was accepted by the taxing authorities, leading to the dismissal of the penalty. The court emphasized that deliberate intent to evade tax must be proven for the penalty to apply, which was not the case here. Therefore, the appeal by the Revenue was dismissed, and no costs were awarded. Case-Laws Income Tax Thu, 27 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10746