https://www.taxtmi.com/caselaws?id=25655 The High Court held that the Tribunal erred in canceling penalties under section 271(1)(c) of the Income-tax Act, 1961 for assessment years 1966-67 and 1967-68 without providing essential findings as required by the Explanation to the Act. The Court emphasized the need for proper consideration of income differences and explanations provided by the assessee, directing the matter back to the Tribunal for a fresh decision in accordance with statutory provisions. en-us Tue, 30 Sep 1986 00:00:00 +0530 Sat, 30 Jan 2010 10:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25655 The High Court held that the Tribunal erred in canceling penalties under section 271(1)(c) of the Income-tax Act, 1961 for assessment years 1966-67 and 1967-68 without providing essential findings as required by the Explanation to the Act. The Court emphasized the need for proper consideration of income differences and explanations provided by the assessee, directing the matter back to the Tribunal for a fresh decision in accordance with statutory provisions. Case-Laws Income Tax Tue, 30 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25655