https://www.taxtmi.com/caselaws?id=216090 The tribunal upheld the CIT(A)'s decision to delete the penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act. The tribunal emphasized that penalty proceedings require clear findings on the specific charge of concealment or furnishing inaccurate particulars, which were lacking in this case. The tribunal concluded that the penalty order was unsustainable as the assessee had disclosed all necessary particulars, acted in good faith by withdrawing the claim, and paying taxes voluntarily before the notice under section 143(2) was issued. en-us Fri, 08 Jun 2012 00:00:00 +0530 Mon, 11 Apr 2016 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216090 The tribunal upheld the CIT(A)'s decision to delete the penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act. The tribunal emphasized that penalty proceedings require clear findings on the specific charge of concealment or furnishing inaccurate particulars, which were lacking in this case. The tribunal concluded that the penalty order was unsustainable as the assessee had disclosed all necessary particulars, acted in good faith by withdrawing the claim, and paying taxes voluntarily before the notice under section 143(2) was issued. Case-Laws Income Tax Fri, 08 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216090