https://www.taxtmi.com/caselaws?id=252788 The High Court dismissed the appeal filed by the revenue against the Commissioner's decision to set aside the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Court found that the penalty for furnishing inaccurate particulars was not justified as there was no deliberate intention by the assessee. Emphasizing the need for specific conditions to initiate penalty proceedings, the Court ruled in favor of the assessee due to the absence of a clear direction in the assessment order, rendering the penalty proceedings invalid. en-us Mon, 13 Oct 2014 00:00:00 +0530 Tue, 04 Nov 2014 06:06:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252788 The High Court dismissed the appeal filed by the revenue against the Commissioner's decision to set aside the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Court found that the penalty for furnishing inaccurate particulars was not justified as there was no deliberate intention by the assessee. Emphasizing the need for specific conditions to initiate penalty proceedings, the Court ruled in favor of the assessee due to the absence of a clear direction in the assessment order, rendering the penalty proceedings invalid. Case-Laws Income Tax Mon, 13 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252788