https://www.taxtmi.com/caselaws?id=234981 The Tribunal allowed the assessee's appeal, canceling the penalty of Rs. 99,000 imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee had not concealed income or furnished inaccurate particulars, as the sale proceeds were declared, and the delay in deposit was reasonably explained. The penalty imposition was deemed unsustainable, and the order was pronounced on 30.4.2013. en-us Tue, 30 Apr 2013 00:00:00 +0530 Sat, 06 Jul 2013 07:57:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234981 The Tribunal allowed the assessee's appeal, canceling the penalty of Rs. 99,000 imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee had not concealed income or furnished inaccurate particulars, as the sale proceeds were declared, and the delay in deposit was reasonably explained. The penalty imposition was deemed unsustainable, and the order was pronounced on 30.4.2013. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234981