https://www.taxtmi.com/caselaws?id=219504 The Tribunal canceled the penalty imposed under Section 271(1)(c) on the appellant for inaccurate particulars and concealment of income. The Tribunal found no evidence of mala fide intent, considering the appellant's reasonable cause for not producing vouchers and the debatable nature of the expenditure treatment. The Tribunal concluded that the appellant's actions were not mala fide or intended to conceal income, leading to the cancellation of the penalty, in line with legal precedents cited. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 10 Dec 2012 06:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219504 The Tribunal canceled the penalty imposed under Section 271(1)(c) on the appellant for inaccurate particulars and concealment of income. The Tribunal found no evidence of mala fide intent, considering the appellant's reasonable cause for not producing vouchers and the debatable nature of the expenditure treatment. The Tribunal concluded that the appellant's actions were not mala fide or intended to conceal income, leading to the cancellation of the penalty, in line with legal precedents cited. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219504