https://www.taxtmi.com/caselaws?id=328854 The High Court upheld the decisions of the CIT (Appeals) and the Tribunal, dismissing the tax appeal. It emphasized that divergence in opinion on tax liability did not warrant penalty proceedings under Section 271(1)(c) of the Income Tax Act. The Court stressed the significance of accurate furnishing of facts and referenced relevant Supreme Court decisions to support its ruling. en-us Thu, 09 Jun 2016 00:00:00 +0530 Thu, 16 Jun 2016 13:46:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328854 The High Court upheld the decisions of the CIT (Appeals) and the Tribunal, dismissing the tax appeal. It emphasized that divergence in opinion on tax liability did not warrant penalty proceedings under Section 271(1)(c) of the Income Tax Act. The Court stressed the significance of accurate furnishing of facts and referenced relevant Supreme Court decisions to support its ruling. Case-Laws Income Tax Thu, 09 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328854