https://www.taxtmi.com/caselaws?id=214436 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order that canceled the penalty under Section 271(1)(c). The Tribunal found that the assessee had not furnished inaccurate particulars of income and that the dispute was merely about the timing of the expense, not its legitimacy. The legal principles established by higher courts were applied to conclude that the penalty was not justified in this case. en-us Thu, 31 May 2012 00:00:00 +0530 Mon, 02 Jul 2012 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214436 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order that canceled the penalty under Section 271(1)(c). The Tribunal found that the assessee had not furnished inaccurate particulars of income and that the dispute was merely about the timing of the expense, not its legitimacy. The legal principles established by higher courts were applied to conclude that the penalty was not justified in this case. Case-Laws Income Tax Thu, 31 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214436