https://www.taxtmi.com/caselaws?id=56508 The Tribunal upheld the deletion of the penalty under section 271(1)(c) of the Income-tax Act, 1961, finding that the assessee did not conceal income or furnish inaccurate particulars. It was determined that the penalty order was barred by limitation, as the relevant assessment order was not appealed before the ITAT, extending the limitation period under section 275(1)(a). As a result, the Revenue's appeal was dismissed, and the Cross Objection by the assessee was allowed. en-us Thu, 31 Jan 2002 00:00:00 +0530 Sat, 04 Dec 2010 11:20:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56508 The Tribunal upheld the deletion of the penalty under section 271(1)(c) of the Income-tax Act, 1961, finding that the assessee did not conceal income or furnish inaccurate particulars. It was determined that the penalty order was barred by limitation, as the relevant assessment order was not appealed before the ITAT, extending the limitation period under section 275(1)(a). As a result, the Revenue's appeal was dismissed, and the Cross Objection by the assessee was allowed. Case-Laws Income Tax Thu, 31 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56508