https://www.taxtmi.com/caselaws?id=55251 The case involved disputes over penalty imposition under section 271(1)(c) of the Income-tax Act, 1961, for alleged concealment of income by a deceased assessee in a property transaction. The Revenue contested the deletion of the penalty by the CIT (Appeals) Surat, arguing that the deceased had concealed income by underreporting his ownership share. Despite initial penalty imposition upheld by the Tribunal, the CIT (Appeals) justified deleting the penalty due to lack of concealment, conflicting authorities' opinions, and the deceased's inability to substantiate his claim post his demise. The Tribunal affirmed the deletion of the penalty, emphasizing the absence of justification for its imposition. en-us Fri, 28 Jul 1995 00:00:00 +0530 Wed, 24 Nov 2010 18:33:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55251 The case involved disputes over penalty imposition under section 271(1)(c) of the Income-tax Act, 1961, for alleged concealment of income by a deceased assessee in a property transaction. The Revenue contested the deletion of the penalty by the CIT (Appeals) Surat, arguing that the deceased had concealed income by underreporting his ownership share. Despite initial penalty imposition upheld by the Tribunal, the CIT (Appeals) justified deleting the penalty due to lack of concealment, conflicting authorities' opinions, and the deceased's inability to substantiate his claim post his demise. The Tribunal affirmed the deletion of the penalty, emphasizing the absence of justification for its imposition. Case-Laws Income Tax Fri, 28 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55251