https://www.taxtmi.com/caselaws?id=57288 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty under section 271(1)(c) for the assessment year 1991-92. The decision was based on the lack of recorded satisfaction regarding income concealment in the assessment order, in line with legal requirements. The Tribunal found support in prior judgments and legal principles, rejecting arguments against the penalty deletion. The decision aligned with precedents and established that rectification can occur post a jurisdictional High Court decision, ultimately affirming the CIT(A)'s deletion of the penalty. en-us Wed, 08 Dec 2004 00:00:00 +0530 Thu, 09 Dec 2010 13:12:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57288 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty under section 271(1)(c) for the assessment year 1991-92. The decision was based on the lack of recorded satisfaction regarding income concealment in the assessment order, in line with legal requirements. The Tribunal found support in prior judgments and legal principles, rejecting arguments against the penalty deletion. The decision aligned with precedents and established that rectification can occur post a jurisdictional High Court decision, ultimately affirming the CIT(A)'s deletion of the penalty. Case-Laws Income Tax Wed, 08 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57288