https://www.taxtmi.com/caselaws?id=178155 The ITAT upheld the decision of the CIT(A) to delete the penalty imposed under section 271(1)(c) of the IT Act on the assessee for furnishing inaccurate particulars of income. The CIT(A) found that the appellant had provided all necessary particulars in good faith, and the concealment of income was not deliberate. The ITAT agreed that the penalty could not be imposed based on differing opinions on certain payments made in different financial years. Consequently, the appeal by the Revenue was dismissed, and the penalty of Rs. 21,08,228/- was deleted. en-us Thu, 21 Apr 2011 00:00:00 +0530 Fri, 29 Jan 2016 11:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178155 The ITAT upheld the decision of the CIT(A) to delete the penalty imposed under section 271(1)(c) of the IT Act on the assessee for furnishing inaccurate particulars of income. The CIT(A) found that the appellant had provided all necessary particulars in good faith, and the concealment of income was not deliberate. The ITAT agreed that the penalty could not be imposed based on differing opinions on certain payments made in different financial years. Consequently, the appeal by the Revenue was dismissed, and the penalty of Rs. 21,08,228/- was deleted. Case-Laws Income Tax Thu, 21 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178155