https://www.taxtmi.com/caselaws?id=61176 The Appellate Tribunal ITAT Chandigarh overturned the penalty of Rs. 2,314 imposed on the assessee under section 271(1)(c) of the Income Tax Act, 1961 for filing two returns simultaneously. The Tribunal found that the assessee's actions were based on a bona fide belief and not a deliberate attempt to evade tax. Emphasizing the lack of malice or intent to defraud, the Tribunal concluded that penalizing the assessee for a minor tax amount would be unjust. The appeal was allowed, and the penalty was canceled due to the genuine misunderstanding and transparent disclosure by the assessee. en-us Fri, 23 Oct 1981 00:00:00 +0530 Tue, 11 Jan 2011 12:04:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61176 The Appellate Tribunal ITAT Chandigarh overturned the penalty of Rs. 2,314 imposed on the assessee under section 271(1)(c) of the Income Tax Act, 1961 for filing two returns simultaneously. The Tribunal found that the assessee's actions were based on a bona fide belief and not a deliberate attempt to evade tax. Emphasizing the lack of malice or intent to defraud, the Tribunal concluded that penalizing the assessee for a minor tax amount would be unjust. The appeal was allowed, and the penalty was canceled due to the genuine misunderstanding and transparent disclosure by the assessee. Case-Laws Income Tax Fri, 23 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61176