https://www.taxtmi.com/caselaws?id=206748 The High Court dismissed the revenue's appeal regarding the imposition of a penalty under Section 271(1)(c) of the Income Tax Act. The court upheld the findings of the CIT (A) and the Tribunal, emphasizing that the Assessing Officer failed to provide sufficient evidence to demonstrate that the assessee furnished inaccurate particulars of income. The court highlighted that a mere erroneous claim made in good faith does not warrant a penalty for inaccurate particulars. en-us Mon, 10 Oct 2011 00:00:00 +0530 Mon, 14 Nov 2011 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206748 The High Court dismissed the revenue's appeal regarding the imposition of a penalty under Section 271(1)(c) of the Income Tax Act. The court upheld the findings of the CIT (A) and the Tribunal, emphasizing that the Assessing Officer failed to provide sufficient evidence to demonstrate that the assessee furnished inaccurate particulars of income. The court highlighted that a mere erroneous claim made in good faith does not warrant a penalty for inaccurate particulars. Case-Laws Income Tax Mon, 10 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206748