https://www.taxtmi.com/caselaws?id=31919 The High Court upheld the Tribunal's decision to delete the penalty imposed under section 271B of the Income-tax Act. The judgment emphasized the importance of bona fide belief in determining the applicability of penalties under tax laws and reiterated the significance of factual findings in such cases. The appeal filed by the Revenue was dismissed. en-us Fri, 22 Feb 2008 00:00:00 +0530 Wed, 31 Dec 2008 13:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31919 The High Court upheld the Tribunal's decision to delete the penalty imposed under section 271B of the Income-tax Act. The judgment emphasized the importance of bona fide belief in determining the applicability of penalties under tax laws and reiterated the significance of factual findings in such cases. The appeal filed by the Revenue was dismissed. Case-Laws Income Tax Fri, 22 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31919