https://www.taxtmi.com/caselaws?id=261658 The Court upheld the decision to delete the penalty imposed on the Assessee for concealing income and furnishing inaccurate particulars. It found that the Assessee's actions did not demonstrate dishonesty or malafide intent, as they were based on a bonafide belief supported by legal precedents. The Court emphasized that the Revenue's contentions did not raise substantial questions of law, ultimately dismissing the appeal. en-us Mon, 06 Jul 2015 00:00:00 +0530 Sat, 07 Nov 2015 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261658 The Court upheld the decision to delete the penalty imposed on the Assessee for concealing income and furnishing inaccurate particulars. It found that the Assessee's actions did not demonstrate dishonesty or malafide intent, as they were based on a bonafide belief supported by legal precedents. The Court emphasized that the Revenue's contentions did not raise substantial questions of law, ultimately dismissing the appeal. Case-Laws Income Tax Mon, 06 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261658