https://www.taxtmi.com/caselaws?id=387121 The High Court dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to set aside the penalty under Section 271(1)(c) of the Income Tax Act for the assessment year 2010-11. The Court ruled that the Assessing Officer failed to establish concealment of material facts or furnishing inaccurate particulars by the assessee, emphasizing the necessity of meeting the grounds for penalty imposition. As no evidence of concealment or inaccuracy was found, the penalty was deemed unjustified, highlighting the importance of clear justification for imposing penalties under the Act. en-us Tue, 01 Oct 2019 00:00:00 +0530 Thu, 17 Oct 2019 10:58:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387121 The High Court dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to set aside the penalty under Section 271(1)(c) of the Income Tax Act for the assessment year 2010-11. The Court ruled that the Assessing Officer failed to establish concealment of material facts or furnishing inaccurate particulars by the assessee, emphasizing the necessity of meeting the grounds for penalty imposition. As no evidence of concealment or inaccuracy was found, the penalty was deemed unjustified, highlighting the importance of clear justification for imposing penalties under the Act. Case-Laws Income Tax Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387121