https://www.taxtmi.com/caselaws?id=266200 The Tribunal allowed the appeal, ruling in favor of the assessee. It classified the claimed bad debt as a business loss and set aside the penalty imposed under section 271(1)(c) for alleged concealment of income. The Tribunal emphasized that the penalty was unwarranted as there was no concealment or furnishing of inaccurate particulars, attributing the dispute to a mere difference in interpretation between the assessee and Revenue authorities. en-us Wed, 04 Mar 2015 00:00:00 +0530 Mon, 19 Oct 2015 07:40:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266200 The Tribunal allowed the appeal, ruling in favor of the assessee. It classified the claimed bad debt as a business loss and set aside the penalty imposed under section 271(1)(c) for alleged concealment of income. The Tribunal emphasized that the penalty was unwarranted as there was no concealment or furnishing of inaccurate particulars, attributing the dispute to a mere difference in interpretation between the assessee and Revenue authorities. Case-Laws Income Tax Wed, 04 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266200