https://www.taxtmi.com/caselaws?id=14728 The High Court upheld the Tribunal's decision to delete the penalty imposed by the Inspecting Assistant Commissioner under section 271(1)(c) of the Income-tax Act, 1961. The court found that the omission to disclose commission income was not intentional, emphasizing that penalties should not be imposed if the assessee acted in an honest belief. Referring to established legal principles, the court ruled in favor of the assessee, stating that penalties should only be imposed in cases of deliberate defiance of the law. The Tribunal's deletion of the penalty was upheld, resulting in a judgment against the Revenue. en-us Thu, 11 May 2000 00:00:00 +0530 Sat, 18 Jul 2009 12:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14728 The High Court upheld the Tribunal's decision to delete the penalty imposed by the Inspecting Assistant Commissioner under section 271(1)(c) of the Income-tax Act, 1961. The court found that the omission to disclose commission income was not intentional, emphasizing that penalties should not be imposed if the assessee acted in an honest belief. Referring to established legal principles, the court ruled in favor of the assessee, stating that penalties should only be imposed in cases of deliberate defiance of the law. The Tribunal's deletion of the penalty was upheld, resulting in a judgment against the Revenue. Case-Laws Income Tax Thu, 11 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14728