https://www.taxtmi.com/caselaws?id=34228 The Tribunal's decisions on the penalty under Section 271(1)(c) and the interest claim under Section 132B(4)(a) were upheld. The Tribunal found no concealment or undisclosed income, thus no penalty was justified. The interest claim was deemed legitimate despite no seizure under Section 132 at the assessee's premises, as the seizure from the safe deposit vault was linked to the assessee. The assessing authority's failure to include interest in the refund order was rectified under Section 154. The Revenue's appeals were dismissed based on the Tribunal's legally sound conclusions. en-us Tue, 07 Jul 2009 00:00:00 +0530 Thu, 15 Mar 2012 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34228 The Tribunal's decisions on the penalty under Section 271(1)(c) and the interest claim under Section 132B(4)(a) were upheld. The Tribunal found no concealment or undisclosed income, thus no penalty was justified. The interest claim was deemed legitimate despite no seizure under Section 132 at the assessee's premises, as the seizure from the safe deposit vault was linked to the assessee. The assessing authority's failure to include interest in the refund order was rectified under Section 154. The Revenue's appeals were dismissed based on the Tribunal's legally sound conclusions. Case-Laws Income Tax Tue, 07 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34228