https://www.taxtmi.com/caselaws?id=34397 The High Court upheld the decision of the ITAT and CIT(A) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2001-02. The penalty was levied on disallowance of expenses and delay in PF and ESI payments, which were found to lack specific defects in the assessee's explanation. The court emphasized that penalty imposition requires evidence of deliberate default, which was absent in this case. The judgment clarified that penalties should not be imposed solely based on disallowances or delays without evidence of concealment or inaccurate particulars. en-us Thu, 20 Aug 2009 00:00:00 +0530 Fri, 28 Dec 2012 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34397 The High Court upheld the decision of the ITAT and CIT(A) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2001-02. The penalty was levied on disallowance of expenses and delay in PF and ESI payments, which were found to lack specific defects in the assessee's explanation. The court emphasized that penalty imposition requires evidence of deliberate default, which was absent in this case. The judgment clarified that penalties should not be imposed solely based on disallowances or delays without evidence of concealment or inaccurate particulars. Case-Laws Income Tax Thu, 20 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34397