https://www.taxtmi.com/caselaws?id=28843 The High Court upheld the Tribunal's decision to cancel the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the Department failed to prove that the explanation provided by the assessee was false or unacceptable. The High Court emphasized the Tribunal's independence and ruled that it was not obligated to consider points not raised by the parties. As the Department did not establish the falsity of the explanation, the penalty was canceled, and costs were awarded in favor of the assessee. en-us Tue, 08 Dec 1981 00:00:00 +0530 Fri, 26 Feb 2010 12:45:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28843 The High Court upheld the Tribunal's decision to cancel the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the Department failed to prove that the explanation provided by the assessee was false or unacceptable. The High Court emphasized the Tribunal's independence and ruled that it was not obligated to consider points not raised by the parties. As the Department did not establish the falsity of the explanation, the penalty was canceled, and costs were awarded in favor of the assessee. Case-Laws Income Tax Tue, 08 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28843