https://www.taxtmi.com/caselaws?id=28463 The High Court overturned the decision of the Income-tax Appellate Tribunal to uphold a penalty under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 1969-70. The case involved a film distribution firm that made an inadvertent mistake in its income tax return, leading to the initiation of penalty proceedings. The High Court found that there was no evidence of intentional wrongdoing or suppression of facts, deeming the imposition of penalty unjustified. Consequently, the firm was not liable to pay the penalty as initially determined by the Tribunal. en-us Fri, 11 Apr 1980 00:00:00 +0530 Mon, 22 Feb 2010 18:04:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28463 The High Court overturned the decision of the Income-tax Appellate Tribunal to uphold a penalty under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 1969-70. The case involved a film distribution firm that made an inadvertent mistake in its income tax return, leading to the initiation of penalty proceedings. The High Court found that there was no evidence of intentional wrongdoing or suppression of facts, deeming the imposition of penalty unjustified. Consequently, the firm was not liable to pay the penalty as initially determined by the Tribunal. Case-Laws Income Tax Fri, 11 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28463