https://www.taxtmi.com/caselaws?id=233376 The Appellate Tribunal overturned the penalty imposed under section 271(1)(c) for claiming depreciation on a car not used during the relevant previous year. The Tribunal found that the appellant acted in good faith, rectified the mistake voluntarily, and did not conceal income. Consequently, the penalty was canceled, and the appeal was granted in favor of the appellant. en-us Mon, 11 Feb 2013 00:00:00 +0530 Mon, 29 Apr 2013 08:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233376 The Appellate Tribunal overturned the penalty imposed under section 271(1)(c) for claiming depreciation on a car not used during the relevant previous year. The Tribunal found that the appellant acted in good faith, rectified the mistake voluntarily, and did not conceal income. Consequently, the penalty was canceled, and the appeal was granted in favor of the appellant. Case-Laws Income Tax Mon, 11 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233376