https://www.taxtmi.com/caselaws?id=284746 The High Court dismissed the income tax appeal filed by the Revenue, upholding the decision of the Appellate Tribunal to cancel the penalty of Rs. 1,10,00,000 imposed under Section 271(1)(c) of the Income Tax Act. The Court found no illegality in the Tribunal's order, stating that there was no intentional concealment of income or furnishing of inaccurate particulars as evidenced by the revised return filed before the notice under Section 153-C was issued. The Court emphasized the lack of evidence supporting the Revenue's claim of concealment, aligning with established legal principles and precedents. en-us Fri, 28 Sep 2018 00:00:00 +0530 Wed, 15 Jan 2020 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284746 The High Court dismissed the income tax appeal filed by the Revenue, upholding the decision of the Appellate Tribunal to cancel the penalty of Rs. 1,10,00,000 imposed under Section 271(1)(c) of the Income Tax Act. The Court found no illegality in the Tribunal's order, stating that there was no intentional concealment of income or furnishing of inaccurate particulars as evidenced by the revised return filed before the notice under Section 153-C was issued. The Court emphasized the lack of evidence supporting the Revenue's claim of concealment, aligning with established legal principles and precedents. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284746