https://www.taxtmi.com/caselaws?id=178340 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for furnishing inaccurate income particulars. The assessee's reliance on expert advice and legal precedents, coupled with the absence of mala fides, led to the conclusion that no penalty was justified. Additionally, the Tribunal supported the exclusion of scrap sales from total turnover for deduction under section 80HHC, considering it a debatable issue where the assessee acted in good faith. The Revenue's appeal was dismissed, affirming the deletion of the penalty, with the assessee's cross-objection allowed for statistical purposes only. en-us Thu, 24 Sep 2009 00:00:00 +0530 Tue, 02 Feb 2016 15:55:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178340 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for furnishing inaccurate income particulars. The assessee's reliance on expert advice and legal precedents, coupled with the absence of mala fides, led to the conclusion that no penalty was justified. Additionally, the Tribunal supported the exclusion of scrap sales from total turnover for deduction under section 80HHC, considering it a debatable issue where the assessee acted in good faith. The Revenue's appeal was dismissed, affirming the deletion of the penalty, with the assessee's cross-objection allowed for statistical purposes only. Case-Laws Income Tax Thu, 24 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178340