https://www.taxtmi.com/caselaws?id=38222 The Court upheld the Tribunal's decision to cancel the penalty order under section 271(1)(c) of the Income-tax Act, 1961. It found no justification for the penalty based on the facts presented, ruling in favor of the assessee. The Court emphasized the significance of factual findings and the burden of proof in penalty proceedings, ultimately disposing of the reference without costs. en-us Thu, 27 Jan 1977 00:00:00 +0530 Sat, 03 Apr 2010 18:38:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38222 The Court upheld the Tribunal's decision to cancel the penalty order under section 271(1)(c) of the Income-tax Act, 1961. It found no justification for the penalty based on the facts presented, ruling in favor of the assessee. The Court emphasized the significance of factual findings and the burden of proof in penalty proceedings, ultimately disposing of the reference without costs. Case-Laws Income Tax Thu, 27 Jan 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38222