https://www.taxtmi.com/caselaws?id=254806 The tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c), emphasizing that the disallowance of expenses did not signify concealment of income. The tribunal's analysis focused on the absence of malafide intent in the assessee's actions, in line with legal principles and relevant case law. The decision was pronounced in open court on 18.7.2014. en-us Fri, 18 Jul 2014 00:00:00 +0530 Thu, 01 Jan 2015 06:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254806 The tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c), emphasizing that the disallowance of expenses did not signify concealment of income. The tribunal's analysis focused on the absence of malafide intent in the assessee's actions, in line with legal principles and relevant case law. The decision was pronounced in open court on 18.7.2014. Case-Laws Income Tax Fri, 18 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254806