https://www.taxtmi.com/caselaws?id=248601 The Tribunal concluded that the penalty under Section 271(1)(c) of the Income-tax Act was not justified as there was no concealment of income or furnishing of inaccurate particulars by the assessee. The assessee's claim, supported by a legal opinion and transparent disclosure, did not warrant a penalty. Therefore, the penalty was deleted, and the appeal of the assessee was allowed. en-us Fri, 06 Jun 2014 00:00:00 +0530 Tue, 17 Mar 2015 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248601 The Tribunal concluded that the penalty under Section 271(1)(c) of the Income-tax Act was not justified as there was no concealment of income or furnishing of inaccurate particulars by the assessee. The assessee's claim, supported by a legal opinion and transparent disclosure, did not warrant a penalty. Therefore, the penalty was deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248601