https://www.taxtmi.com/caselaws?id=248634 The Tribunal held that the penalty imposed under Section 271(1)(c) of the Income-tax Act was not justified as the assessee did not furnish inaccurate particulars of income but merely disputed the nature of the expenditure. The penalty was deleted for the assessment years 2003-04 and 2004-05, and the appeals were partly allowed with the penalty orders set aside. en-us Fri, 06 Jun 2014 00:00:00 +0530 Wed, 18 Jun 2014 22:31:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248634 The Tribunal held that the penalty imposed under Section 271(1)(c) of the Income-tax Act was not justified as the assessee did not furnish inaccurate particulars of income but merely disputed the nature of the expenditure. The penalty was deleted for the assessment years 2003-04 and 2004-05, and the appeals were partly allowed with the penalty orders set aside. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248634