https://www.taxtmi.com/caselaws?id=404392 The ITAT allowed the appeal, vacating the penalty of Rs. 76,000 imposed under section 271(1)(c) by the A.O. The decision emphasized the necessity of concrete evidence to justify penalties and highlighted the burden of proof in tax penalty cases. The judgment underscored the significance of evidence in tax matters and the requirement for a robust basis for penalty imposition, ensuring a fair and just application of the law. en-us Mon, 18 Jan 2021 00:00:00 +0530 Tue, 23 Feb 2021 09:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404392 The ITAT allowed the appeal, vacating the penalty of Rs. 76,000 imposed under section 271(1)(c) by the A.O. The decision emphasized the necessity of concrete evidence to justify penalties and highlighted the burden of proof in tax penalty cases. The judgment underscored the significance of evidence in tax matters and the requirement for a robust basis for penalty imposition, ensuring a fair and just application of the law. Case-Laws Income Tax Mon, 18 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404392