https://www.taxtmi.com/caselaws?id=19845 The court held that the Tribunal was not justified in canceling the penalty of Rs. 33,000 imposed under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal failed to properly consider the Explanation to section 271(1)(c) and did not assess whether the assessee had proven the absence of fraud or neglect. The matter was remanded to the Tribunal to allow both parties a fair opportunity to present their case and to reassess the situation in accordance with the relevant legal provisions. en-us Wed, 10 Nov 1993 00:00:00 +0530 Tue, 10 Nov 2009 11:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19845 The court held that the Tribunal was not justified in canceling the penalty of Rs. 33,000 imposed under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal failed to properly consider the Explanation to section 271(1)(c) and did not assess whether the assessee had proven the absence of fraud or neglect. The matter was remanded to the Tribunal to allow both parties a fair opportunity to present their case and to reassess the situation in accordance with the relevant legal provisions. Case-Laws Income Tax Wed, 10 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19845