https://www.taxtmi.com/caselaws?id=17996 The court upheld the cancellation of penalties imposed by the Income-tax Appellate Tribunal for the assessment years 1969-70 and 1970-71, amounting to Rs. 1,86,163 and Rs. 2,26,617. The Tribunal found no wilful concealment of income by the assessee, a private limited company in the electrical manufacturing business. The court exercised discretion by not addressing the legal question referred by the Tribunal, emphasizing the need for a final decision on the disputed commission payments to the sole selling agent before further legal proceedings could be pursued. en-us Tue, 01 Oct 1996 00:00:00 +0530 Sat, 26 Sep 2009 11:24:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17996 The court upheld the cancellation of penalties imposed by the Income-tax Appellate Tribunal for the assessment years 1969-70 and 1970-71, amounting to Rs. 1,86,163 and Rs. 2,26,617. The Tribunal found no wilful concealment of income by the assessee, a private limited company in the electrical manufacturing business. The court exercised discretion by not addressing the legal question referred by the Tribunal, emphasizing the need for a final decision on the disputed commission payments to the sole selling agent before further legal proceedings could be pursued. Case-Laws Income Tax Tue, 01 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17996