https://www.taxtmi.com/caselaws?id=326346 The Tribunal dismissed the Revenue's appeal challenging the deletion of penalty under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 2009-10. It upheld the CIT(A)'s decision, emphasizing that the assessee had made a full disclosure of all material facts, believed in good faith regarding the deduction claimed, and that the disallowance of the claim did not amount to furnishing inaccurate particulars of income. The Tribunal concurred that the penalty conditions were not satisfied, and hence, upheld the CIT(A)'s order in favor of the assessee. en-us Thu, 10 Mar 2016 00:00:00 +0530 Wed, 13 Apr 2016 10:03:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326346 The Tribunal dismissed the Revenue's appeal challenging the deletion of penalty under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 2009-10. It upheld the CIT(A)'s decision, emphasizing that the assessee had made a full disclosure of all material facts, believed in good faith regarding the deduction claimed, and that the disallowance of the claim did not amount to furnishing inaccurate particulars of income. The Tribunal concurred that the penalty conditions were not satisfied, and hence, upheld the CIT(A)'s order in favor of the assessee. Case-Laws Income Tax Thu, 10 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326346