https://www.taxtmi.com/caselaws?id=327708 The Tribunal allowed the appeal, setting aside the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The appellant's explanations were deemed bona fide, and no concealment or furnishing of inaccurate particulars of income was found. The Tribunal held that the disallowances were based on differing views and that proper verification was lacking, leading to the invalidity of the penalty proceedings. en-us Fri, 13 May 2016 00:00:00 +0530 Tue, 17 May 2016 22:57:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327708 The Tribunal allowed the appeal, setting aside the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The appellant's explanations were deemed bona fide, and no concealment or furnishing of inaccurate particulars of income was found. The Tribunal held that the disallowances were based on differing views and that proper verification was lacking, leading to the invalidity of the penalty proceedings. Case-Laws Income Tax Fri, 13 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327708