https://www.taxtmi.com/caselaws?id=329089 The Tribunal allowed the appeals for statistical purposes, remitting the issue of the allowability of deduction under section 54B back to the Commissioner of Income-tax (Appeals) for fresh consideration. The penalty levied under section 271(1)(c) was deleted as the Assessing Officer failed to prove deliberate concealment or furnishing of inaccurate particulars by the assessee. This decision ensures that matters are decided on merits rather than technicalities, promoting substantial justice. en-us Wed, 04 May 2016 00:00:00 +0530 Wed, 22 Jun 2016 09:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329089 The Tribunal allowed the appeals for statistical purposes, remitting the issue of the allowability of deduction under section 54B back to the Commissioner of Income-tax (Appeals) for fresh consideration. The penalty levied under section 271(1)(c) was deleted as the Assessing Officer failed to prove deliberate concealment or furnishing of inaccurate particulars by the assessee. This decision ensures that matters are decided on merits rather than technicalities, promoting substantial justice. Case-Laws Income Tax Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329089