https://www.taxtmi.com/caselaws?id=242530 The ITAT allowed the appeal, canceling the penalty imposed by the Assessing Officer under Section 271(1)(C) for furnishing inaccurate particulars of income. The judgment emphasized the need for bona fide explanations backed by evidence, stating that inadvertent errors do not constitute concealment of income. The ITAT concluded that the appellant had provided all necessary facts and did not warrant the penalty, referencing relevant case law to support their decision. en-us Fri, 07 Jun 2013 00:00:00 +0530 Fri, 17 Jan 2014 11:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242530 The ITAT allowed the appeal, canceling the penalty imposed by the Assessing Officer under Section 271(1)(C) for furnishing inaccurate particulars of income. The judgment emphasized the need for bona fide explanations backed by evidence, stating that inadvertent errors do not constitute concealment of income. The ITAT concluded that the appellant had provided all necessary facts and did not warrant the penalty, referencing relevant case law to support their decision. Case-Laws Income Tax Fri, 07 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242530