https://www.taxtmi.com/caselaws?id=246034 The Tribunal upheld the CIT (A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, as it found no evidence of concealment of income or furnishing inaccurate particulars. The Tribunal determined that the difference in Arm's Length Price (ALP) was due to a mere difference of opinion and not lack of good faith by the assessee. The appeal by the department was dismissed, and the order was pronounced on 25-10-2013. en-us Fri, 25 Oct 2013 00:00:00 +0530 Tue, 15 Apr 2014 09:05:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246034 The Tribunal upheld the CIT (A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, as it found no evidence of concealment of income or furnishing inaccurate particulars. The Tribunal determined that the difference in Arm's Length Price (ALP) was due to a mere difference of opinion and not lack of good faith by the assessee. The appeal by the department was dismissed, and the order was pronounced on 25-10-2013. Case-Laws Income Tax Fri, 25 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246034