https://www.taxtmi.com/caselaws?id=268882 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income-tax Act for the assessment year 2001-02. The Tribunal emphasized that mere additions to the returned income do not automatically imply inaccurate particulars of income for penalty purposes. It concluded that the penalty was not justified based on the facts and legal principles discussed, ultimately dismissing the Revenue's appeal. en-us Wed, 04 Nov 2015 00:00:00 +0530 Fri, 04 Dec 2015 23:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268882 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income-tax Act for the assessment year 2001-02. The Tribunal emphasized that mere additions to the returned income do not automatically imply inaccurate particulars of income for penalty purposes. It concluded that the penalty was not justified based on the facts and legal principles discussed, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 04 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268882