https://www.taxtmi.com/caselaws?id=62720 The Tribunal upheld the deletion of the penalty imposed under section 271(1)(c) for inaccurate particulars of income. It found that there was a genuine difference of opinion between the assessee and the Revenue regarding the method of accounting, leading to the penalty being unjustified. The Tribunal noted the lack of satisfaction recorded by the Assessing Officer and concluded that the penalty was imposed for inaccurate particulars rather than concealment. As such, the Tribunal dismissed the Revenue's appeal, stating it had no merit. en-us Mon, 11 Nov 2002 00:00:00 +0530 Thu, 21 Jun 2012 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62720 The Tribunal upheld the deletion of the penalty imposed under section 271(1)(c) for inaccurate particulars of income. It found that there was a genuine difference of opinion between the assessee and the Revenue regarding the method of accounting, leading to the penalty being unjustified. The Tribunal noted the lack of satisfaction recorded by the Assessing Officer and concluded that the penalty was imposed for inaccurate particulars rather than concealment. As such, the Tribunal dismissed the Revenue's appeal, stating it had no merit. Case-Laws Income Tax Mon, 11 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62720