https://www.taxtmi.com/caselaws?id=206150 The appeal by the appellant-Revenue challenging the deletion of penalty for the assessment year 2003-04 under section 260A of the Income Tax Act was dismissed. The Tribunal found that the assessee did not conceal income particulars and made a bonafide claim, leading to the penalty being based on a wrong claim. Citing relevant case law, the Tribunal set aside the penalty, stating there was no concealment of material particulars. The Tribunal's decision was upheld as legally sound, with no substantial question of law arising, leading to the dismissal of the appeal. en-us Mon, 10 Jan 2011 00:00:00 +0530 Fri, 14 Oct 2011 23:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206150 The appeal by the appellant-Revenue challenging the deletion of penalty for the assessment year 2003-04 under section 260A of the Income Tax Act was dismissed. The Tribunal found that the assessee did not conceal income particulars and made a bonafide claim, leading to the penalty being based on a wrong claim. Citing relevant case law, the Tribunal set aside the penalty, stating there was no concealment of material particulars. The Tribunal's decision was upheld as legally sound, with no substantial question of law arising, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 10 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206150