https://www.taxtmi.com/caselaws?id=456119 The Tribunal concluded that the penalty under section 271(1)(c) of the Income-tax Act, 1961, was unjustified, as the assessee had made full disclosure of facts and there was a genuine difference of opinion regarding the income's taxability under a specific head. Consequently, the Tribunal canceled the penalty imposed by the CIT(A) and allowed the appeal filed by the assessee. en-us Wed, 18 Nov 2009 00:00:00 +0530 Mon, 01 Jul 2024 10:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456119 The Tribunal concluded that the penalty under section 271(1)(c) of the Income-tax Act, 1961, was unjustified, as the assessee had made full disclosure of facts and there was a genuine difference of opinion regarding the income's taxability under a specific head. Consequently, the Tribunal canceled the penalty imposed by the CIT(A) and allowed the appeal filed by the assessee. Case-Laws Income Tax Wed, 18 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456119