https://www.taxtmi.com/caselaws?id=32354 The court ruled in favor of the assessee, stating that no penalty under Section 271(1)(c) of the Income-tax Act could be imposed for the three items in question. For item (i), the court found that the liability had been incurred by the assessee based on a previous judgment. For item (ii), although initially an issue, the court determined that the liability had been incurred by the assessee. Regarding item (iii), the court accepted that any error in the treatment of the fine was inadvertent and not deliberate, leading to the decision that no penalty should be imposed. en-us Thu, 05 Feb 2009 00:00:00 +0530 Tue, 27 Jul 2010 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32354 The court ruled in favor of the assessee, stating that no penalty under Section 271(1)(c) of the Income-tax Act could be imposed for the three items in question. For item (i), the court found that the liability had been incurred by the assessee based on a previous judgment. For item (ii), although initially an issue, the court determined that the liability had been incurred by the assessee. Regarding item (iii), the court accepted that any error in the treatment of the fine was inadvertent and not deliberate, leading to the decision that no penalty should be imposed. Case-Laws Income Tax Thu, 05 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32354