https://www.taxtmi.com/caselaws?id=327358 The ITAT Delhi held that penalty under section 271(1)(c) was not imposable as there was no finding of concealment or furnishing of inaccurate particulars of income. Since the returned income was accepted without any such finding, the penalty was deemed not applicable. The ITAT emphasized the necessity of a definite finding of concealment before imposing a penalty, directing the Assessing Officer to delete the penalty and allowing the assessee's appeal. en-us Thu, 31 Mar 2016 00:00:00 +0530 Tue, 10 May 2016 11:29:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327358 The ITAT Delhi held that penalty under section 271(1)(c) was not imposable as there was no finding of concealment or furnishing of inaccurate particulars of income. Since the returned income was accepted without any such finding, the penalty was deemed not applicable. The ITAT emphasized the necessity of a definite finding of concealment before imposing a penalty, directing the Assessing Officer to delete the penalty and allowing the assessee's appeal. Case-Laws Income Tax Thu, 31 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327358