https://www.taxtmi.com/caselaws?id=59867 The Tribunal concluded that penalties under section 271(1)(c) of the Income-tax Act were not justified as the assessee's explanation was bona fide, and all material facts were disclosed. The penalties were canceled, and the appeals were allowed. en-us Thu, 28 Nov 1991 00:00:00 +0530 Wed, 18 Dec 2019 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59867 The Tribunal concluded that penalties under section 271(1)(c) of the Income-tax Act were not justified as the assessee's explanation was bona fide, and all material facts were disclosed. The penalties were canceled, and the appeals were allowed. Case-Laws Income Tax Thu, 28 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59867