https://www.taxtmi.com/caselaws?id=198106 The Tribunal upheld the Commissioner (Appeals) decision to cancel the penalty of Rs. 17,46,500 under Section 271(1)(c) of the Income Tax Act. It found that the Assessing Officer did not establish the required satisfaction of income concealment before initiating penalty proceedings. The appeal by the revenue was dismissed, and the penalty was deemed unjustified. en-us Wed, 31 Oct 2007 00:00:00 +0530 Tue, 23 Jan 2018 12:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198106 The Tribunal upheld the Commissioner (Appeals) decision to cancel the penalty of Rs. 17,46,500 under Section 271(1)(c) of the Income Tax Act. It found that the Assessing Officer did not establish the required satisfaction of income concealment before initiating penalty proceedings. The appeal by the revenue was dismissed, and the penalty was deemed unjustified. Case-Laws Income Tax Wed, 31 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198106