https://www.taxtmi.com/caselaws?id=279728 The High Court dismissed the appeal, affirming the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The Court found no substantial question of law and concluded that the penalty should not have been imposed solely on the assumption of concealment of income. The Tribunal's observations supported the appellant's contentions, emphasizing that the assessing officer should have considered the facts appropriately before levying the penalty. en-us Thu, 17 Aug 2017 00:00:00 +0530 Wed, 03 Apr 2019 05:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279728 The High Court dismissed the appeal, affirming the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The Court found no substantial question of law and concluded that the penalty should not have been imposed solely on the assumption of concealment of income. The Tribunal's observations supported the appellant's contentions, emphasizing that the assessing officer should have considered the facts appropriately before levying the penalty. Case-Laws Income Tax Thu, 17 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279728