https://www.taxtmi.com/caselaws?id=459702 The HC of Calcutta dismissed the revenue's appeal concerning the deletion of a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Court agreed with the Tribunal's decision, noting the assessee's compliance in providing necessary facts for income computation. The penalty was considered inapplicable, referencing the SC's decision in CIT vs. Reliance Petrochemicals. The appeal was dismissed, and the substantial question of law was resolved against the revenue. en-us Mon, 20 Feb 2023 00:00:00 +0530 Tue, 24 Dec 2024 10:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459702 The HC of Calcutta dismissed the revenue's appeal concerning the deletion of a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Court agreed with the Tribunal's decision, noting the assessee's compliance in providing necessary facts for income computation. The penalty was considered inapplicable, referencing the SC's decision in CIT vs. Reliance Petrochemicals. The appeal was dismissed, and the substantial question of law was resolved against the revenue. Case-Laws Income Tax Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459702