https://www.taxtmi.com/caselaws?id=328320 The Tribunal set aside the penalty order imposed under section 271(1)(c) for alleged concealment of income by the appellant. It was found that the appellant's claim for deduction was due to an inadvertent and bonafide mistake, not constituting inaccurate particulars of income or income concealment. Relying on a Supreme Court precedent, the Tribunal deemed the penalty unjustified and unsustainable in law, ultimately allowing the appeal and overturning the penalty order. en-us Mon, 25 Apr 2016 00:00:00 +0530 Wed, 01 Jun 2016 21:40:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328320 The Tribunal set aside the penalty order imposed under section 271(1)(c) for alleged concealment of income by the appellant. It was found that the appellant's claim for deduction was due to an inadvertent and bonafide mistake, not constituting inaccurate particulars of income or income concealment. Relying on a Supreme Court precedent, the Tribunal deemed the penalty unjustified and unsustainable in law, ultimately allowing the appeal and overturning the penalty order. Case-Laws Income Tax Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328320