https://www.taxtmi.com/caselaws?id=269934 The Tribunal upheld the deletion of penalties under section 271(1)(c) of the Income Tax Act for assessment years 2009-10 and 2010-11. In the case of A.Y. 2009-10, the Tribunal found that the assessee did not conceal income or furnish inaccurate particulars, considering legal and debatable issues supported by judicial decisions. For A.Y. 2010-11, the Tribunal emphasized that the revised return filed by the assessee after knowing the authorities' view did not amount to inaccurate particulars. The Tribunal dismissed the Revenue's appeals, affirming the CIT(A)'s decisions in both years. en-us Wed, 28 Oct 2015 00:00:00 +0530 Thu, 24 Dec 2015 10:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269934 The Tribunal upheld the deletion of penalties under section 271(1)(c) of the Income Tax Act for assessment years 2009-10 and 2010-11. In the case of A.Y. 2009-10, the Tribunal found that the assessee did not conceal income or furnish inaccurate particulars, considering legal and debatable issues supported by judicial decisions. For A.Y. 2010-11, the Tribunal emphasized that the revised return filed by the assessee after knowing the authorities' view did not amount to inaccurate particulars. The Tribunal dismissed the Revenue's appeals, affirming the CIT(A)'s decisions in both years. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269934