Dismissing the appeal of the revenue the Court held that , the finding arrived by the Tribunal being finding of fact there being reasonable cause. Deletion of penalty is held to be justified .( AY.2001-02)
CIT v. M. P. Purushothaman (2018) 407 ITR 689/ ( 2019) 175 DTR 221/ (2020) 314 CTR 733 (Mad) ( HC)
S. 271(1)(c) : Penalty – Concealment – Cash credits- Reasonable cause in omitting rental income- Deletion of penalty is held to be justified .[ S.260A ]