https://www.taxtmi.com/caselaws?id=180300 The Tribunal held that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee's claim for depreciation on assets acquired with capital subsidy, though unsustainable, did not amount to furnishing inaccurate particulars of income. The Tribunal directed the Assessing Officer to delete the penalty, allowing the appeal of the assessee. en-us Wed, 17 Sep 2014 00:00:00 +0530 Mon, 21 Mar 2016 10:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180300 The Tribunal held that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee's claim for depreciation on assets acquired with capital subsidy, though unsustainable, did not amount to furnishing inaccurate particulars of income. The Tribunal directed the Assessing Officer to delete the penalty, allowing the appeal of the assessee. Case-Laws Income Tax Wed, 17 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180300