https://www.taxtmi.com/caselaws?id=56388 The Tribunal upheld the cancellation of a penalty under section 271(1)(c) of the IT Act, 1961, imposed by the Income Tax Officer on the assessee. The initiation of penalty proceedings was found to be invalid as the satisfaction of the ITO was not properly communicated to the assessee. Additionally, the Tribunal deemed the voluntary disclosure of income in the revised return as genuine and complete, dismissing the appeal and affirming the decision to cancel the penalty based on legal principles and precedents cited during the proceedings. en-us Sun, 25 Apr 1993 00:00:00 +0530 Fri, 03 Dec 2010 13:37:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56388 The Tribunal upheld the cancellation of a penalty under section 271(1)(c) of the IT Act, 1961, imposed by the Income Tax Officer on the assessee. The initiation of penalty proceedings was found to be invalid as the satisfaction of the ITO was not properly communicated to the assessee. Additionally, the Tribunal deemed the voluntary disclosure of income in the revised return as genuine and complete, dismissing the appeal and affirming the decision to cancel the penalty based on legal principles and precedents cited during the proceedings. Case-Laws Income Tax Sun, 25 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56388