https://www.taxtmi.com/caselaws?id=39366 The High Court of Orissa upheld the decision of the Appellate Tribunal to not levy a penalty under section 271(1)(c) of the Income-tax Act. The court found that the Tribunal correctly considered the absence of deliberate defiance of the law or contumacious conduct by the assessee, leading to the conclusion that penalties were unwarranted. The court emphasized the discretionary power to impose penalties, subject to satisfaction by the Income-tax Officer and review in appeals. The decision was in line with the law as per the Explanation to section 271(1)(c) of the Income-tax Act. en-us Wed, 10 Sep 1975 00:00:00 +0530 Fri, 16 Apr 2010 10:25:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39366 The High Court of Orissa upheld the decision of the Appellate Tribunal to not levy a penalty under section 271(1)(c) of the Income-tax Act. The court found that the Tribunal correctly considered the absence of deliberate defiance of the law or contumacious conduct by the assessee, leading to the conclusion that penalties were unwarranted. The court emphasized the discretionary power to impose penalties, subject to satisfaction by the Income-tax Officer and review in appeals. The decision was in line with the law as per the Explanation to section 271(1)(c) of the Income-tax Act. Case-Laws Income Tax Wed, 10 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39366