https://www.taxtmi.com/caselaws?id=17207 The Supreme Court held that no penalty under section 271(1)(c) should be imposed if a breach stems from a bona fide belief or technical violation. In this case, the Tribunal found the mistake to be inadvertent and bona fide, leading to no concealment by the assessee. The court rejected the application to refer questions of law, stating the Tribunal's decision was justified based on uncontroverted findings of fact. The court emphasized that penalty imposition should be a matter of discretion exercised judicially, considering all relevant circumstances. en-us Wed, 16 Jul 1997 00:00:00 +0530 Tue, 15 Sep 2009 18:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17207 The Supreme Court held that no penalty under section 271(1)(c) should be imposed if a breach stems from a bona fide belief or technical violation. In this case, the Tribunal found the mistake to be inadvertent and bona fide, leading to no concealment by the assessee. The court rejected the application to refer questions of law, stating the Tribunal's decision was justified based on uncontroverted findings of fact. The court emphasized that penalty imposition should be a matter of discretion exercised judicially, considering all relevant circumstances. Case-Laws Income Tax Wed, 16 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17207