https://www.taxtmi.com/caselaws?id=60843 The Tribunal allowed the appeals, ruling that penalties under sections 271(1)(a), 271(1)(c), and 273(b) were unjustified due to the assessee's bona fide conduct and lack of evidence supporting the penalties. The Tribunal admitted the additional ground raised by the assessee for a review of penalty quantum, emphasizing the settlement and waiver petitions did not waive penalty proceedings. The penalties were deemed wrongly imposed and canceled based on the factual assertions accepted by the High Court. en-us Fri, 17 Mar 1989 00:00:00 +0530 Sat, 08 Jan 2011 12:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60843 The Tribunal allowed the appeals, ruling that penalties under sections 271(1)(a), 271(1)(c), and 273(b) were unjustified due to the assessee's bona fide conduct and lack of evidence supporting the penalties. The Tribunal admitted the additional ground raised by the assessee for a review of penalty quantum, emphasizing the settlement and waiver petitions did not waive penalty proceedings. The penalties were deemed wrongly imposed and canceled based on the factual assertions accepted by the High Court. Case-Laws Income Tax Fri, 17 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60843