https://www.taxtmi.com/caselaws?id=326344 The Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. It found that the appellant had not concealed income or furnished inaccurate particulars, as all relevant details were disclosed in the income tax return. The Tribunal emphasized that the refund of the security deposit supported the appellant's position, concluding that the penalty was unjustified. Consequently, the penalty was deleted, and the Assessing Officer was directed to act accordingly. en-us Wed, 09 Mar 2016 00:00:00 +0530 Wed, 13 Apr 2016 10:03:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326344 The Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. It found that the appellant had not concealed income or furnished inaccurate particulars, as all relevant details were disclosed in the income tax return. The Tribunal emphasized that the refund of the security deposit supported the appellant's position, concluding that the penalty was unjustified. Consequently, the penalty was deleted, and the Assessing Officer was directed to act accordingly. Case-Laws Income Tax Wed, 09 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326344