https://www.taxtmi.com/caselaws?id=32807 The High Court upheld the Tribunal's decision to cancel the penalty imposed on the Assessee under Section 271(1)(c) of the Income Tax Act, 1961. The Court found that the Assessee did not furnish inaccurate particulars of income, as all necessary details were provided during the assessment proceedings, leading to the conclusion that there was no concealment of income. The Court dismissed the Revenue's appeal, stating that no substantial question of law arose and affirming the cancellation of the penalty. en-us Fri, 13 Jul 2007 00:00:00 +0530 Fri, 03 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32807 The High Court upheld the Tribunal's decision to cancel the penalty imposed on the Assessee under Section 271(1)(c) of the Income Tax Act, 1961. The Court found that the Assessee did not furnish inaccurate particulars of income, as all necessary details were provided during the assessment proceedings, leading to the conclusion that there was no concealment of income. The Court dismissed the Revenue's appeal, stating that no substantial question of law arose and affirming the cancellation of the penalty. Case-Laws Income Tax Fri, 13 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32807