https://www.taxtmi.com/caselaws?id=56161 The Tribunal concluded that there was no justification for the penalty imposed under section 271(1)(c) of the I.T. Act. The penalty was deleted as the assessee's disclosure during the assessment proceedings was considered sufficient, and the conditions for immunity under Explanation 5 to section 271(1)(c) were found to be met. The appeal was allowed in favor of the assessee, emphasizing the importance of procedural propriety and legal authenticity in penalty proceedings. en-us Fri, 05 Dec 1997 00:00:00 +0530 Thu, 02 Dec 2010 10:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56161 The Tribunal concluded that there was no justification for the penalty imposed under section 271(1)(c) of the I.T. Act. The penalty was deleted as the assessee's disclosure during the assessment proceedings was considered sufficient, and the conditions for immunity under Explanation 5 to section 271(1)(c) were found to be met. The appeal was allowed in favor of the assessee, emphasizing the importance of procedural propriety and legal authenticity in penalty proceedings. Case-Laws Income Tax Fri, 05 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56161