https://www.taxtmi.com/caselaws?id=267027 The Tribunal upheld the deletion of penalty under section 271(1)(c) of the Income Tax Act, 1961, finding no concealment or submission of inaccurate particulars by the assessee. The dispute centered on the disallowance of expenses related to payments made by the Branch Office to the Head Office, with the Tribunal emphasizing the debatable nature of the issue and the assessee's disclosure of all relevant facts. The Tribunal highlighted the necessity of a clear case of concealment to impose a penalty, ultimately dismissing the appeal by the Assessing Officer and affirming the decision to delete the penalty. en-us Wed, 23 Sep 2015 00:00:00 +0530 Wed, 28 Oct 2015 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267027 The Tribunal upheld the deletion of penalty under section 271(1)(c) of the Income Tax Act, 1961, finding no concealment or submission of inaccurate particulars by the assessee. The dispute centered on the disallowance of expenses related to payments made by the Branch Office to the Head Office, with the Tribunal emphasizing the debatable nature of the issue and the assessee's disclosure of all relevant facts. The Tribunal highlighted the necessity of a clear case of concealment to impose a penalty, ultimately dismissing the appeal by the Assessing Officer and affirming the decision to delete the penalty. Case-Laws Income Tax Wed, 23 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267027