https://www.taxtmi.com/caselaws?id=56470 The Tribunal annulled penalty orders imposed by the Assessing Officer and upheld by the CIT(A) under sections 271(1)(c) & 271(1)(b) of the IT Act. The assessees' revised returns under the Amnesty Scheme were deemed valid, voluntary, and compliant. The Tribunal found no evidence of concealment or false disclosures, leading to the deletion of penalties. Emphasizing good faith disclosures, the Tribunal set aside the penalties, citing a similar precedent where penalties were deleted. en-us Wed, 28 Aug 2002 00:00:00 +0530 Fri, 03 Dec 2010 18:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56470 The Tribunal annulled penalty orders imposed by the Assessing Officer and upheld by the CIT(A) under sections 271(1)(c) & 271(1)(b) of the IT Act. The assessees' revised returns under the Amnesty Scheme were deemed valid, voluntary, and compliant. The Tribunal found no evidence of concealment or false disclosures, leading to the deletion of penalties. Emphasizing good faith disclosures, the Tribunal set aside the penalties, citing a similar precedent where penalties were deleted. Case-Laws Income Tax Wed, 28 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56470