https://www.taxtmi.com/caselaws?id=271457 The ITAT partly allowed the appeal, deleting the penalty on undervaluation of old marble slabs and tiles but upholding the penalty on the calculation mistake in valuation. The judgment highlighted that differences in valuation methods do not amount to concealment of income under Section 271(1)(c) of the Income Tax Act. en-us Wed, 06 Jan 2016 00:00:00 +0530 Fri, 05 Feb 2016 06:15:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271457 The ITAT partly allowed the appeal, deleting the penalty on undervaluation of old marble slabs and tiles but upholding the penalty on the calculation mistake in valuation. The judgment highlighted that differences in valuation methods do not amount to concealment of income under Section 271(1)(c) of the Income Tax Act. Case-Laws Income Tax Wed, 06 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271457