https://www.taxtmi.com/caselaws?id=177543 The Tribunal concluded that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee had not furnished inaccurate particulars of income or concealed any income. The error in applying the tax rate was deemed a bona fide clerical mistake, corrected by the assessee during the assessment proceedings. Therefore, the penalty was deleted, and the appeal filed by the assessee was allowed. en-us Fri, 28 Sep 2012 00:00:00 +0530 Mon, 29 Jan 2018 09:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177543 The Tribunal concluded that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee had not furnished inaccurate particulars of income or concealed any income. The error in applying the tax rate was deemed a bona fide clerical mistake, corrected by the assessee during the assessment proceedings. Therefore, the penalty was deleted, and the appeal filed by the assessee was allowed. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177543