https://www.taxtmi.com/caselaws?id=18106 The High Court found that penalty proceedings under section 271(1)(c) of the Income-tax Act, 1961 were improperly initiated due to lack of substantial material supporting the penalty imposition. The court held that the Tribunal erred in confirming the penalty without considering all relevant facts, while also unjustifiably setting aside the cancellation of the penalty by the Commissioner of Income-tax (Appeals). The judgment favored the assessee, and the case was remitted to the Income-tax Appellate Tribunal for further action. en-us Tue, 27 Aug 1996 00:00:00 +0530 Sat, 26 Sep 2009 17:18:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18106 The High Court found that penalty proceedings under section 271(1)(c) of the Income-tax Act, 1961 were improperly initiated due to lack of substantial material supporting the penalty imposition. The court held that the Tribunal erred in confirming the penalty without considering all relevant facts, while also unjustifiably setting aside the cancellation of the penalty by the Commissioner of Income-tax (Appeals). The judgment favored the assessee, and the case was remitted to the Income-tax Appellate Tribunal for further action. Case-Laws Income Tax Tue, 27 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18106