High Court Upholds Relief for Assessee, Dismisses Re-imposition of Penalty u/s 271(1)(c) of Income Tax Act.

High Court Upholds Relief for Assessee, Dismisses Re-imposition of Penalty u/s 271(1)(c) of Income Tax Act. https://www.taxtmi.com/highlights?id=54195 Penalty levied u/s 271(I)(c) - Whether "Mens rea" is apparent in this case? - where the two regular appellate authorities have granted the relief to the Assessee by deleting the penalty imposed by the Assessing Authority u/s 271(1)(c), we don't think that it is a fit case for re-imposition thereof, by allowing the appeal of the Department - HC en-us Wed, 29 Jul 2020 15:04:53 +0530 Wed, 29 Jul 2020 15:04:53 +0530 TaxTMI RSS Generator High Court Upholds Relief for Assessee, Dismisses Re-imposition of Penalty u/s 271(1)(c) of Income Tax Act. https://www.taxtmi.com/highlights?id=54195 Penalty levied u/s 271(I)(c) - Whether "Mens rea" is apparent in this case? - where the two regular appellate authorities have granted the relief to the Assessee by deleting the penalty imposed by the Assessing Authority u/s 271(1)(c), we don't think that it is a fit case for re-imposition thereof, by allowing the appeal of the Department - HC Highlights Income Tax Wed, 29 Jul 2020 15:04:53 +0530 https://www.taxtmi.com/highlights?id=54195