https://www.taxtmi.com/caselaws?id=379077 The Tribunal upheld the deletion of penalties under section 271(1)(c) of the Income Tax Act for the Asstt.Year 2012-13 in the cases of Mann Corporation and Yamunaji Corporation. The disclosed amounts were included in the returns filed before the due date, accepted by the Assessing Officer without adjustments, and the assumption that disclosure was prompted by the survey was deemed unfounded. Relying on legal precedents, the Tribunal dismissed the Revenue's appeals, concluding that the penalties were not sustainable on factual or legal grounds. en-us Wed, 24 Apr 2019 00:00:00 +0530 Fri, 26 Apr 2019 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379077 The Tribunal upheld the deletion of penalties under section 271(1)(c) of the Income Tax Act for the Asstt.Year 2012-13 in the cases of Mann Corporation and Yamunaji Corporation. The disclosed amounts were included in the returns filed before the due date, accepted by the Assessing Officer without adjustments, and the assumption that disclosure was prompted by the survey was deemed unfounded. Relying on legal precedents, the Tribunal dismissed the Revenue's appeals, concluding that the penalties were not sustainable on factual or legal grounds. Case-Laws Income Tax Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379077