https://www.taxtmi.com/caselaws?id=217961 The Tribunal held that the penalty under Section 271(1)(c) of the Income Tax Act, 1961 was not justified as the assessee had disclosed all material facts and the claim for depreciation on farm house and commercial flats was made in a bona fide manner. The appeal of the assessee was accepted, and the penalty was directed to be deleted. en-us Wed, 18 Jul 2012 00:00:00 +0530 Thu, 13 Sep 2012 16:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217961 The Tribunal held that the penalty under Section 271(1)(c) of the Income Tax Act, 1961 was not justified as the assessee had disclosed all material facts and the claim for depreciation on farm house and commercial flats was made in a bona fide manner. The appeal of the assessee was accepted, and the penalty was directed to be deleted. Case-Laws Income Tax Wed, 18 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217961