https://www.taxtmi.com/caselaws?id=374500 The High Court upheld the Tribunal's decision to set aside the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment years 2008-09. The Court ruled in favor of the assessee, emphasizing the need for evidence of concealment before imposing penalties. The decision was based on the defective notice issued to the assessee and the precedent set by a Division Bench of the High Court of Karnataka. The appeal by the Revenue was dismissed, affirming the Tribunal's order and settling the substantial questions of law raised. en-us Tue, 18 Dec 2018 00:00:00 +0530 Mon, 04 Feb 2019 09:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374500 The High Court upheld the Tribunal's decision to set aside the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment years 2008-09. The Court ruled in favor of the assessee, emphasizing the need for evidence of concealment before imposing penalties. The decision was based on the defective notice issued to the assessee and the precedent set by a Division Bench of the High Court of Karnataka. The appeal by the Revenue was dismissed, affirming the Tribunal's order and settling the substantial questions of law raised. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374500