https://www.taxtmi.com/caselaws?id=269149 The ITAT dismissed the Revenue's appeal, affirming that the assessee did not conceal income or file inaccurate particulars. The penalty under Section 271(1)(c) was deemed unjustified as the assessee's claim was bona fide and based on the legal framework existing at the time of filing the return. The order of the CIT(A) deleting the penalty was upheld, and the grounds raised by the Revenue were dismissed. The appeal of the Revenue was consequently dismissed. en-us Tue, 13 Oct 2015 00:00:00 +0530 Wed, 09 Dec 2015 09:34:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269149 The ITAT dismissed the Revenue's appeal, affirming that the assessee did not conceal income or file inaccurate particulars. The penalty under Section 271(1)(c) was deemed unjustified as the assessee's claim was bona fide and based on the legal framework existing at the time of filing the return. The order of the CIT(A) deleting the penalty was upheld, and the grounds raised by the Revenue were dismissed. The appeal of the Revenue was consequently dismissed. Case-Laws Income Tax Tue, 13 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269149