https://www.taxtmi.com/caselaws?id=375361 The Tribunal condoned the delay in filing the appeal, admitting it due to the non-deliberate nature of the delay. Regarding the penalty under section 271(1)(c) of the Income Tax Act, the Tribunal found in favor of the assessee, deleting the penalty of Rs. 9,18,395. The Tribunal emphasized the need for a genuine explanation and full disclosure of facts, stating that penalty proceedings are separate from assessment proceedings. The Tribunal highlighted flaws in the penalty notice and referenced relevant case law in support of its decision. en-us Wed, 13 Feb 2019 00:00:00 +0530 Mon, 18 Feb 2019 06:37:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375361 The Tribunal condoned the delay in filing the appeal, admitting it due to the non-deliberate nature of the delay. Regarding the penalty under section 271(1)(c) of the Income Tax Act, the Tribunal found in favor of the assessee, deleting the penalty of Rs. 9,18,395. The Tribunal emphasized the need for a genuine explanation and full disclosure of facts, stating that penalty proceedings are separate from assessment proceedings. The Tribunal highlighted flaws in the penalty notice and referenced relevant case law in support of its decision. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375361