https://www.taxtmi.com/caselaws?id=207723 The court dismissed the appeal under Section 260A of the Income Tax Act, 1961, challenging the deletion of penalty for furnishing inaccurate income particulars by the assessee. The court upheld the decision of the Tribunal, emphasizing that the claim for exemption on the entire gratuity amount was made under a mistaken bonafide belief, not with the intent to evade tax. The court highlighted that penalty imposition hinges on the intent to evade tax, and in this case, the claim was considered to be made in good faith, leading to the dismissal of the appeal. en-us Wed, 05 Jan 2011 00:00:00 +0530 Thu, 22 Dec 2011 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207723 The court dismissed the appeal under Section 260A of the Income Tax Act, 1961, challenging the deletion of penalty for furnishing inaccurate income particulars by the assessee. The court upheld the decision of the Tribunal, emphasizing that the claim for exemption on the entire gratuity amount was made under a mistaken bonafide belief, not with the intent to evade tax. The court highlighted that penalty imposition hinges on the intent to evade tax, and in this case, the claim was considered to be made in good faith, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 05 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207723