https://www.taxtmi.com/caselaws?id=254165 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 13(1)(c) of the Interest Tax Act. It was found that the penalty was not justified as the assessee had not concealed any interest income or furnished inaccurate particulars. The Tribunal emphasized that the issues were debatable and required interpretation of the law, concluding that the penalty could not be imposed solely based on the revenue's disagreement with the assessee's claims. The appeal of the revenue was dismissed, and the CIT(A)'s order was upheld, with the judgment pronounced on 4th March 2014. en-us Tue, 04 Mar 2014 00:00:00 +0530 Tue, 24 Feb 2015 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254165 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 13(1)(c) of the Interest Tax Act. It was found that the penalty was not justified as the assessee had not concealed any interest income or furnished inaccurate particulars. The Tribunal emphasized that the issues were debatable and required interpretation of the law, concluding that the penalty could not be imposed solely based on the revenue's disagreement with the assessee's claims. The appeal of the revenue was dismissed, and the CIT(A)'s order was upheld, with the judgment pronounced on 4th March 2014. Case-Laws Income Tax Tue, 04 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254165