https://www.taxtmi.com/caselaws?id=245441 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) for inaccurate particulars of income, citing the legal principles established in the Reliance Petro Products Ltd. case. The Tribunal also found the assessee's explanations to fall under the saving provisions of Section 273, leading to the cancellation of the penalty. The decision was based on a thorough analysis of the facts, legal arguments, and relevant judicial precedents, ultimately dismissing the Revenue's appeal. en-us Thu, 06 Mar 2014 00:00:00 +0530 Sat, 29 Mar 2014 10:37:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245441 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) for inaccurate particulars of income, citing the legal principles established in the Reliance Petro Products Ltd. case. The Tribunal also found the assessee's explanations to fall under the saving provisions of Section 273, leading to the cancellation of the penalty. The decision was based on a thorough analysis of the facts, legal arguments, and relevant judicial precedents, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Thu, 06 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245441