https://www.taxtmi.com/caselaws?id=401069 The appeal against the penalty of INR 19,21,920 under section 271(l)(c) of the Income Tax Act, 1961 was dismissed. The appellant's contentions regarding violation of natural justice, lack of application of mind in imposing the penalty, disclosure of material facts, penalty on debatable legal issues, and applicability of Explanation 1 of the Act were not upheld. The appellant opted to settle the dispute under "The Direct Tax Vivad Se Vishwas Scheme", 2020, with the appeal being dismissed subject to the condition of potential reinstitution if the dispute was not resolved through the scheme. en-us Wed, 25 Nov 2020 00:00:00 +0530 Thu, 26 Nov 2020 11:56:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401069 The appeal against the penalty of INR 19,21,920 under section 271(l)(c) of the Income Tax Act, 1961 was dismissed. The appellant's contentions regarding violation of natural justice, lack of application of mind in imposing the penalty, disclosure of material facts, penalty on debatable legal issues, and applicability of Explanation 1 of the Act were not upheld. The appellant opted to settle the dispute under "The Direct Tax Vivad Se Vishwas Scheme", 2020, with the appeal being dismissed subject to the condition of potential reinstitution if the dispute was not resolved through the scheme. Case-Laws Income Tax Wed, 25 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401069