https://www.taxtmi.com/caselaws?id=215829 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for Assessment Year 2004-05. It found that there was no evidence of concealment or furnishing inaccurate particulars by the assessee committee regarding the rent charged to its Directors and their relatives. The Tribunal emphasized the importance of disclosing accurate facts in audit reports and distinguished between concealment of income and furnishing inaccurate particulars, ultimately dismissing the revenue's appeal. en-us Tue, 26 Jun 2012 00:00:00 +0530 Mon, 20 Aug 2012 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215829 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for Assessment Year 2004-05. It found that there was no evidence of concealment or furnishing inaccurate particulars by the assessee committee regarding the rent charged to its Directors and their relatives. The Tribunal emphasized the importance of disclosing accurate facts in audit reports and distinguished between concealment of income and furnishing inaccurate particulars, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Tue, 26 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215829