https://www.taxtmi.com/caselaws?id=280861 The Appellate Tribunal upheld the cancellation of the penalty u/s.271(1)(c) of the Act for the assessment year 2005-06. The Tribunal found that when the Assessing Officer accepted the additional income offered by the assessee during assessment proceedings, the penalty was not leviable. The decision was based on legal principles established by the Kerala High Court and other judicial authorities, leading to the dismissal of the revenue's appeal. en-us Fri, 20 Jan 2012 00:00:00 +0530 Thu, 23 May 2019 12:31:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280861 The Appellate Tribunal upheld the cancellation of the penalty u/s.271(1)(c) of the Act for the assessment year 2005-06. The Tribunal found that when the Assessing Officer accepted the additional income offered by the assessee during assessment proceedings, the penalty was not leviable. The decision was based on legal principles established by the Kerala High Court and other judicial authorities, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 20 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280861