https://www.taxtmi.com/caselaws?id=32080 The High Court dismissed the Revenue's appeals, upholding the decisions of the Commissioner and the Tribunal to set aside penalties under Section 271(1)(c). The Court ruled that the voluntary surrender of additional income by the assessee, without evidence of concealment, did not justify imposing penalties. Emphasizing the importance of factual findings in penalty proceedings, the Court cited relevant case laws and precedents to support its decision. en-us Fri, 12 Sep 2008 00:00:00 +0530 Wed, 14 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32080 The High Court dismissed the Revenue's appeals, upholding the decisions of the Commissioner and the Tribunal to set aside penalties under Section 271(1)(c). The Court ruled that the voluntary surrender of additional income by the assessee, without evidence of concealment, did not justify imposing penalties. Emphasizing the importance of factual findings in penalty proceedings, the Court cited relevant case laws and precedents to support its decision. Case-Laws Income Tax Fri, 12 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32080