https://www.taxtmi.com/caselaws?id=12048 The High Court upheld the cancellation of the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 1984-85. The Court disagreed with the Appellate Tribunal's characterization of the claim as not false, emphasizing that such determination should be made during the reconsideration process by the Assessing Officer. The Court clarified that the final decision on penalty imposition would depend on the subsequent assessment made by the Assessing Officer in accordance with the law, stressing the importance of procedural correctness and refraining from pre-empting the final decision on penalty imposition. en-us Mon, 02 Dec 2002 00:00:00 +0530 Tue, 16 Feb 2010 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12048 The High Court upheld the cancellation of the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 1984-85. The Court disagreed with the Appellate Tribunal's characterization of the claim as not false, emphasizing that such determination should be made during the reconsideration process by the Assessing Officer. The Court clarified that the final decision on penalty imposition would depend on the subsequent assessment made by the Assessing Officer in accordance with the law, stressing the importance of procedural correctness and refraining from pre-empting the final decision on penalty imposition. Case-Laws Income Tax Mon, 02 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12048