https://www.taxtmi.com/caselaws?id=243860 The Tribunal upheld the CIT(A) order, dismissing the Revenue's appeal against the cancellation of the penalty under section 271(1)(c). The Tribunal found no malafide intent on the part of the assessee in claiming the expenditure as revenue, in line with the Supreme Court's interpretation of furnishing inaccurate particulars. The decision emphasized the absence of deliberate concealment or willful evasion of taxes, leading to the deletion of the penalty. en-us Wed, 07 Aug 2013 00:00:00 +0530 Tue, 11 Feb 2014 06:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243860 The Tribunal upheld the CIT(A) order, dismissing the Revenue's appeal against the cancellation of the penalty under section 271(1)(c). The Tribunal found no malafide intent on the part of the assessee in claiming the expenditure as revenue, in line with the Supreme Court's interpretation of furnishing inaccurate particulars. The decision emphasized the absence of deliberate concealment or willful evasion of taxes, leading to the deletion of the penalty. Case-Laws Income Tax Wed, 07 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243860