https://www.taxtmi.com/caselaws?id=382332 The High Court upheld the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1962, in a case where there was a disagreement between the assessee and the Assessing Officer regarding the treatment of stock appreciation rights. The Court found no deliberate concealment of income by the assessee and noted the bona fide nature of the discrepancy. The Court dismissed the Revenue's appeal, emphasizing the lack of mala fide intentions on the part of the assessee and supporting the Tribunal's reasoning. en-us Tue, 04 Jun 2019 00:00:00 +0530 Sat, 29 Jun 2019 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382332 The High Court upheld the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1962, in a case where there was a disagreement between the assessee and the Assessing Officer regarding the treatment of stock appreciation rights. The Court found no deliberate concealment of income by the assessee and noted the bona fide nature of the discrepancy. The Court dismissed the Revenue's appeal, emphasizing the lack of mala fide intentions on the part of the assessee and supporting the Tribunal's reasoning. Case-Laws Income Tax Tue, 04 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382332