https://www.taxtmi.com/caselaws?id=443130 The ITAT allowed the appeal and directed the deletion of the penalty under Section 271(1)(c) of the Act for Assessment Year 2014-15. The delay in filing the appeal was condoned due to misplaced documents, and it was noted that the revised return was filed before reasons for re-opening the assessment were provided. The ITAT found that the penalty was not justified as there was no evidence of conscious concealment of income, referencing judicial precedents supporting the deletion of penalties in similar cases. en-us Wed, 13 Sep 2023 00:00:00 +0530 Sat, 16 Sep 2023 08:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443130 The ITAT allowed the appeal and directed the deletion of the penalty under Section 271(1)(c) of the Act for Assessment Year 2014-15. The delay in filing the appeal was condoned due to misplaced documents, and it was noted that the revised return was filed before reasons for re-opening the assessment were provided. The ITAT found that the penalty was not justified as there was no evidence of conscious concealment of income, referencing judicial precedents supporting the deletion of penalties in similar cases. Case-Laws Income Tax Wed, 13 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443130