https://www.taxtmi.com/caselaws?id=248703 The Tribunal allowed the appeal, ruling that the penalty under section 271(1)(c) for inaccurate particulars and concealment of income was unwarranted. The assessee's claim under section 54F for investment in three flats as one residential unit was considered valid, supported by legal principles and precedents. Emphasizing the bonafide nature of the claim and the legal backing provided, the Tribunal concluded that the penalty was unjustified and deleted it. en-us Fri, 30 May 2014 00:00:00 +0530 Sat, 21 Jun 2014 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248703 The Tribunal allowed the appeal, ruling that the penalty under section 271(1)(c) for inaccurate particulars and concealment of income was unwarranted. The assessee's claim under section 54F for investment in three flats as one residential unit was considered valid, supported by legal principles and precedents. Emphasizing the bonafide nature of the claim and the legal backing provided, the Tribunal concluded that the penalty was unjustified and deleted it. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248703