https://www.taxtmi.com/caselaws?id=21786 The High Court upheld the Tribunal's decision to set aside the penalty imposed on the assessee under section 271(l)(c) of the Income-tax Act, 1961. The Court found that the Tribunal's decision was based on factual findings and not a question of law. The judgment emphasized that the Tribunal's findings were in accordance with relevant legal principles, and there was no perversity in the factual determination. The Court deemed the reference for decision under section 256 of the Act as incompetent and rejected it, concluding that no costs were awarded in the case. en-us Tue, 06 Aug 1991 00:00:00 +0530 Tue, 01 Dec 2009 12:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21786 The High Court upheld the Tribunal's decision to set aside the penalty imposed on the assessee under section 271(l)(c) of the Income-tax Act, 1961. The Court found that the Tribunal's decision was based on factual findings and not a question of law. The judgment emphasized that the Tribunal's findings were in accordance with relevant legal principles, and there was no perversity in the factual determination. The Court deemed the reference for decision under section 256 of the Act as incompetent and rejected it, concluding that no costs were awarded in the case. Case-Laws Income Tax Tue, 06 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21786