https://www.taxtmi.com/caselaws?id=103288 The ITAT Delhi upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the IT Act. The Tribunal found that although the depreciation claim was disallowed, there was no evidence of deliberate concealment of income by the assessee. As a result, the penalty was deemed unwarranted as the mere disallowance of a claim without proof of dishonest intent did not justify imposing a penalty for concealment of income. en-us Wed, 28 Aug 2002 00:00:00 +0530 Wed, 22 Feb 2012 11:23:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103288 The ITAT Delhi upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the IT Act. The Tribunal found that although the depreciation claim was disallowed, there was no evidence of deliberate concealment of income by the assessee. As a result, the penalty was deemed unwarranted as the mere disallowance of a claim without proof of dishonest intent did not justify imposing a penalty for concealment of income. Case-Laws Income Tax Wed, 28 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103288