https://www.taxtmi.com/caselaws?id=14667 The High Court upheld the Tribunal's decision, ruling in favor of the assessee and against the Revenue, affirming the cancellation of the penalty under section 271(1)(c) based on the application of Explanation 1 to the case. The Court found that the assessee had disclosed all material facts and that the burden of proof and factual findings supported the cancellation of the penalty. en-us Fri, 10 Mar 2000 00:00:00 +0530 Fri, 17 Jul 2009 18:28:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14667 The High Court upheld the Tribunal's decision, ruling in favor of the assessee and against the Revenue, affirming the cancellation of the penalty under section 271(1)(c) based on the application of Explanation 1 to the case. The Court found that the assessee had disclosed all material facts and that the burden of proof and factual findings supported the cancellation of the penalty. Case-Laws Income Tax Fri, 10 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14667