https://www.taxtmi.com/caselaws?id=239287 The ITAT upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income Tax Act, finding no concealment of income or inaccurate particulars by the assessee. The Revenue's appeal was dismissed, emphasizing that penalties should not be imposed in debatable issues where full disclosures are made. The ITAT's ruling aligns with Supreme Court principles, ensuring penalties are imposed judiciously. en-us Fri, 12 Apr 2013 00:00:00 +0530 Sun, 10 Nov 2013 06:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239287 The ITAT upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income Tax Act, finding no concealment of income or inaccurate particulars by the assessee. The Revenue's appeal was dismissed, emphasizing that penalties should not be imposed in debatable issues where full disclosures are made. The ITAT's ruling aligns with Supreme Court principles, ensuring penalties are imposed judiciously. Case-Laws Income Tax Fri, 12 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239287