https://www.taxtmi.com/caselaws?id=326942 The Tribunal condoned the delay in filing the appeal against the penalty under section 271(1)(c) of the Income Tax Act, accepting the justification of illness provided by the appellant. The penalty was upheld for the wrong claim of depreciation, impacting reserves and surpluses, as it was deemed to involve inaccurate particulars of income. The Tribunal compared the case with relevant precedents and confirmed the penalty imposition under section 271(1)(c), dismissing the appeal based on the inaccurate claim of depreciation affecting reserves. en-us Fri, 18 Mar 2016 00:00:00 +0530 Thu, 28 Apr 2016 10:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326942 The Tribunal condoned the delay in filing the appeal against the penalty under section 271(1)(c) of the Income Tax Act, accepting the justification of illness provided by the appellant. The penalty was upheld for the wrong claim of depreciation, impacting reserves and surpluses, as it was deemed to involve inaccurate particulars of income. The Tribunal compared the case with relevant precedents and confirmed the penalty imposition under section 271(1)(c), dismissing the appeal based on the inaccurate claim of depreciation affecting reserves. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326942