https://www.taxtmi.com/caselaws?id=243469 The High Court upheld the Tribunal's decision to delete the penalty imposed on the assessee for furnishing inaccurate particulars of income. The Court found that there was no deliberate intention to conceal income, emphasizing the reliance on a certificate from a competent authority and the absence of fresh material supporting the penalty imposition. Judicial precedents supporting inadvertent errors by reputable firms and the requirement of deliberate default for penalty imposition were cited. The Court dismissed the Revenue's appeals, ruling in favor of the assessee based on the evidence and legal principles. en-us Fri, 16 Aug 2013 00:00:00 +0530 Mon, 03 Feb 2014 08:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243469 The High Court upheld the Tribunal's decision to delete the penalty imposed on the assessee for furnishing inaccurate particulars of income. The Court found that there was no deliberate intention to conceal income, emphasizing the reliance on a certificate from a competent authority and the absence of fresh material supporting the penalty imposition. Judicial precedents supporting inadvertent errors by reputable firms and the requirement of deliberate default for penalty imposition were cited. The Court dismissed the Revenue's appeals, ruling in favor of the assessee based on the evidence and legal principles. Case-Laws Income Tax Fri, 16 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243469