https://www.taxtmi.com/caselaws?id=59490 The Tribunal allowed the appeal, concluding that the penalty under section 271(1)(c) was not justified due to the bona fide belief of the assessee, full disclosure of material facts, and the lack of proper satisfaction recorded by the Assessing Officer. The penalty was deleted, and the appeal was allowed in favor of the assessee. en-us Tue, 26 Jun 2007 00:00:00 +0530 Wed, 12 Jun 2013 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59490 The Tribunal allowed the appeal, concluding that the penalty under section 271(1)(c) was not justified due to the bona fide belief of the assessee, full disclosure of material facts, and the lack of proper satisfaction recorded by the Assessing Officer. The penalty was deleted, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 26 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59490