https://www.taxtmi.com/caselaws?id=208924 The Tribunal held that the penalty under Section 271(1)(c) of the Income-tax Act was unjustified as there was no conclusive evidence of deliberate concealment or furnishing inaccurate particulars of income by the assessee. The Tribunal stressed that penalties should not be automatic and must be based on clear evidence of wrongdoing. Accordingly, the Tribunal allowed the appeals of the assessee and deleted the penalty imposed. en-us Fri, 06 Jan 2012 00:00:00 +0530 Wed, 01 Feb 2012 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208924 The Tribunal held that the penalty under Section 271(1)(c) of the Income-tax Act was unjustified as there was no conclusive evidence of deliberate concealment or furnishing inaccurate particulars of income by the assessee. The Tribunal stressed that penalties should not be automatic and must be based on clear evidence of wrongdoing. Accordingly, the Tribunal allowed the appeals of the assessee and deleted the penalty imposed. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208924