https://www.taxtmi.com/caselaws?id=268107 The Tribunal dismissed the Revenue's appeals and upheld the cancellation of penalties under section 271(1)(c) for inaccurate income particulars. Emphasizing the need for deliberate intent or mens rea, the Tribunal ruled that differences in interpretation or computation methods do not warrant penalties unless there is evidence of intentional misrepresentation. Referring to legal principles and precedents, the Tribunal concluded that the penalty was unjustified in this case as there was no deliberate concealment of income or furnishing of inaccurate particulars. en-us Fri, 17 Apr 2015 00:00:00 +0530 Fri, 20 Nov 2015 10:22:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268107 The Tribunal dismissed the Revenue's appeals and upheld the cancellation of penalties under section 271(1)(c) for inaccurate income particulars. Emphasizing the need for deliberate intent or mens rea, the Tribunal ruled that differences in interpretation or computation methods do not warrant penalties unless there is evidence of intentional misrepresentation. Referring to legal principles and precedents, the Tribunal concluded that the penalty was unjustified in this case as there was no deliberate concealment of income or furnishing of inaccurate particulars. Case-Laws Income Tax Fri, 17 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268107