https://www.taxtmi.com/caselaws?id=184401 The Tribunal upheld the decision of the Commissioner of Income Tax(Appeals) to delete the penalty u/s 271(1)(c). The appeal of the revenue was dismissed, and the impugned order was upheld. The judgment emphasizes the importance of disclosing all relevant facts and particulars to avoid penalties for concealment of income. It also underscores that making an incorrect claim in law does not attract penalty provisions under the IT Act. en-us Wed, 22 May 2013 00:00:00 +0530 Thu, 07 Jul 2016 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184401 The Tribunal upheld the decision of the Commissioner of Income Tax(Appeals) to delete the penalty u/s 271(1)(c). The appeal of the revenue was dismissed, and the impugned order was upheld. The judgment emphasizes the importance of disclosing all relevant facts and particulars to avoid penalties for concealment of income. It also underscores that making an incorrect claim in law does not attract penalty provisions under the IT Act. Case-Laws Income Tax Wed, 22 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184401