https://www.taxtmi.com/caselaws?id=69647 The Tribunal dismissed the appeal, affirming the cancellation of the penalty imposed under section 271(1)(c) for alleged concealment of income. The Tribunal found that the assessee had acted in good faith, and the penalty was not justified as the department failed to establish deliberate furnishing of inaccurate particulars. Additionally, the Tribunal did not address the jurisdiction issue under section 274(2) as it found no evidence of dishonest intention or fraud by the assessee in declaring the cost of construction. en-us Wed, 14 Aug 1985 00:00:00 +0530 Mon, 11 Apr 2011 12:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69647 The Tribunal dismissed the appeal, affirming the cancellation of the penalty imposed under section 271(1)(c) for alleged concealment of income. The Tribunal found that the assessee had acted in good faith, and the penalty was not justified as the department failed to establish deliberate furnishing of inaccurate particulars. Additionally, the Tribunal did not address the jurisdiction issue under section 274(2) as it found no evidence of dishonest intention or fraud by the assessee in declaring the cost of construction. Case-Laws Income Tax Wed, 14 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69647