https://www.taxtmi.com/caselaws?id=217073 The Tribunal held that the penalty under section 271(1)(c) was not justified for the provision of loan pool account and bad doubtful debts as the appellant had not furnished inaccurate particulars of income. The disallowance was carried forward from previous years as opening balances, and no deductions were claimed in the current assessment year. Therefore, the penalty was canceled, and the appeal of the assessee was allowed. en-us Fri, 28 Sep 2012 00:00:00 +0530 Mon, 01 Oct 2012 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217073 The Tribunal held that the penalty under section 271(1)(c) was not justified for the provision of loan pool account and bad doubtful debts as the appellant had not furnished inaccurate particulars of income. The disallowance was carried forward from previous years as opening balances, and no deductions were claimed in the current assessment year. Therefore, the penalty was canceled, and the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217073