https://www.taxtmi.com/caselaws?id=253152 The Tribunal allowed the appeal, deleting the penalty imposed under Section 271(1)(c) for all the disallowed expenses. The disallowances were based on the reasonableness of expenses, not on the accuracy of particulars furnished by the assessee. The Tribunal found the explanations provided were not malicious, and the disclosures in the books of account were legally sufficient. en-us Fri, 10 Jan 2014 00:00:00 +0530 Mon, 17 Nov 2014 06:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253152 The Tribunal allowed the appeal, deleting the penalty imposed under Section 271(1)(c) for all the disallowed expenses. The disallowances were based on the reasonableness of expenses, not on the accuracy of particulars furnished by the assessee. The Tribunal found the explanations provided were not malicious, and the disclosures in the books of account were legally sufficient. Case-Laws Income Tax Fri, 10 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253152