https://www.taxtmi.com/caselaws?id=177248 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, ruling that the errors made by the assessee were bona fide and not intentional. The mistakes were attributed to the accountant's errors, which were disclosed during assessment proceedings. The Tribunal cited judicial precedents, including the Supreme Court's ruling in Price Waterhouse Coopers Pvt. Ltd., emphasizing that inadvertent errors do not warrant penalty imposition. The department's appeal was dismissed, affirming the deletion of the penalty. en-us Fri, 30 Jan 2015 00:00:00 +0530 Wed, 17 Feb 2016 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177248 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, ruling that the errors made by the assessee were bona fide and not intentional. The mistakes were attributed to the accountant's errors, which were disclosed during assessment proceedings. The Tribunal cited judicial precedents, including the Supreme Court's ruling in Price Waterhouse Coopers Pvt. Ltd., emphasizing that inadvertent errors do not warrant penalty imposition. The department's appeal was dismissed, affirming the deletion of the penalty. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177248