https://www.taxtmi.com/caselaws?id=57769 The court upheld the CIT(A)'s decision to cancel the penalty imposed under s. 271(1)(c) for unproved sundry creditors and salary paid to a minor daughter. The appeal focused on compliance with statutory requirements, including the necessity of prior approval for penalty imposition. The court emphasized the need for the AO to establish concealed income with material evidence and found the penalty on sundry creditors unwarranted. Ultimately, the penalty was canceled due to the lack of infirmity in the CIT(A)'s order and considerations of the revised return, leading to the dismissal of the Revenue's appeal. en-us Thu, 26 Jun 2003 00:00:00 +0530 Mon, 13 Dec 2010 13:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57769 The court upheld the CIT(A)'s decision to cancel the penalty imposed under s. 271(1)(c) for unproved sundry creditors and salary paid to a minor daughter. The appeal focused on compliance with statutory requirements, including the necessity of prior approval for penalty imposition. The court emphasized the need for the AO to establish concealed income with material evidence and found the penalty on sundry creditors unwarranted. Ultimately, the penalty was canceled due to the lack of infirmity in the CIT(A)'s order and considerations of the revised return, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 26 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57769