https://www.taxtmi.com/caselaws?id=249313 The High Court upheld the penalty imposition under Section 271(1)(c) of the Income Tax Act, ruling against the assessee for filing inaccurate particulars related to a claim for liquidated damages. The Court found the Tribunal's decision to delete the penalty unsustainable, emphasizing the lack of bona fide explanation and supporting evidence for the claim. The appeal was allowed in favor of the Revenue, setting aside the Tribunal's decision and affirming the penalty imposition. en-us Wed, 02 Jul 2014 00:00:00 +0530 Tue, 17 Feb 2015 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249313 The High Court upheld the penalty imposition under Section 271(1)(c) of the Income Tax Act, ruling against the assessee for filing inaccurate particulars related to a claim for liquidated damages. The Court found the Tribunal's decision to delete the penalty unsustainable, emphasizing the lack of bona fide explanation and supporting evidence for the claim. The appeal was allowed in favor of the Revenue, setting aside the Tribunal's decision and affirming the penalty imposition. Case-Laws Income Tax Wed, 02 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249313