https://www.taxtmi.com/caselaws?id=356212 The Tribunal set aside the deletion of penalty under section 271(1)(c) by the Commissioner of Income Tax (Appeals). It found that the penalty was justified due to deliberate but wrong claims by the assessee, leading to concealment. The Tribunal remanded the issue of penalty under sections 14A and 115JB for further examination, emphasizing the need for a fair opportunity for the assessee to present their case. The matter was restored for fresh consideration, overturning the decision to delete the penalty. en-us Fri, 16 Feb 2018 00:00:00 +0530 Tue, 09 Aug 2022 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356212 The Tribunal set aside the deletion of penalty under section 271(1)(c) by the Commissioner of Income Tax (Appeals). It found that the penalty was justified due to deliberate but wrong claims by the assessee, leading to concealment. The Tribunal remanded the issue of penalty under sections 14A and 115JB for further examination, emphasizing the need for a fair opportunity for the assessee to present their case. The matter was restored for fresh consideration, overturning the decision to delete the penalty. Case-Laws Income Tax Fri, 16 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356212