https://www.taxtmi.com/caselaws?id=22615 The High Court of ALLAHABAD ruled in a case involving a Muslim waqf for the assessment year 1969-70 that no penalty under section 271(1)(c) of the Income-tax Act was justifiable. The Tribunal and the High Court both concluded that the penalty was unwarranted as there was no concealment of income or wilful negligence by the assessee. The income discrepancy was attributed to the disallowance of certain expenses by the Income-tax Officer, leading to the decision in favor of the assessee with no costs imposed against them. en-us Fri, 04 Jan 1991 00:00:00 +0530 Fri, 11 Dec 2009 14:08:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22615 The High Court of ALLAHABAD ruled in a case involving a Muslim waqf for the assessment year 1969-70 that no penalty under section 271(1)(c) of the Income-tax Act was justifiable. The Tribunal and the High Court both concluded that the penalty was unwarranted as there was no concealment of income or wilful negligence by the assessee. The income discrepancy was attributed to the disallowance of certain expenses by the Income-tax Officer, leading to the decision in favor of the assessee with no costs imposed against them. Case-Laws Income Tax Fri, 04 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22615