https://www.taxtmi.com/caselaws?id=426499 The Tribunal dismissed the Revenue's appeal against the penalty imposed under section 271(1)(c) of the Income Tax Act for the Assessment Year 2012-13, ruling that the penalty for concealment of income was unjustified as the quantum appeal favoring the assessee was allowed. Similarly, in the appeal for the Assessment Year 2015-16, the Tribunal upheld the exemption granted to the assessee, dismissing the Revenue's appeal challenging the penalty. en-us Fri, 22 Jul 2022 00:00:00 +0530 Thu, 18 Aug 2022 08:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426499 The Tribunal dismissed the Revenue's appeal against the penalty imposed under section 271(1)(c) of the Income Tax Act for the Assessment Year 2012-13, ruling that the penalty for concealment of income was unjustified as the quantum appeal favoring the assessee was allowed. Similarly, in the appeal for the Assessment Year 2015-16, the Tribunal upheld the exemption granted to the assessee, dismissing the Revenue's appeal challenging the penalty. Case-Laws Income Tax Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426499