https://www.taxtmi.com/caselaws?id=31141 The Court dismissed the revenue's appeal under Section 260-A of the Income Tax Act, 1961, challenging the deletion of a penalty imposed on the assessee for alleged concealment of income. The Tribunal found no conscious breach of law by the assessee, leading to the penalty being directed to be deleted. The Court upheld the Tribunal's decision, noting the absence of any specific flaw in the lower authorities' conclusions and emphasizing the requirement for a conscious breach of law for penalty imposition, which was not established in this case. en-us Tue, 01 Jul 2008 00:00:00 +0530 Mon, 20 Oct 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31141 The Court dismissed the revenue's appeal under Section 260-A of the Income Tax Act, 1961, challenging the deletion of a penalty imposed on the assessee for alleged concealment of income. The Tribunal found no conscious breach of law by the assessee, leading to the penalty being directed to be deleted. The Court upheld the Tribunal's decision, noting the absence of any specific flaw in the lower authorities' conclusions and emphasizing the requirement for a conscious breach of law for penalty imposition, which was not established in this case. Case-Laws Income Tax Tue, 01 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31141