https://www.taxtmi.com/caselaws?id=330008 The ITAT ruled in favor of the Assessee, deleting the penalty imposed under section 271(1)(c) as it found no evidence of inaccurate particulars being furnished. The ITAT emphasized that the penalty should only be imposed if inaccurate particulars are indeed furnished to evade taxes, and the mere confirmation of an addition in quantum proceedings does not automatically warrant a penalty. en-us Fri, 08 Jul 2016 00:00:00 +0530 Thu, 14 Jul 2016 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330008 The ITAT ruled in favor of the Assessee, deleting the penalty imposed under section 271(1)(c) as it found no evidence of inaccurate particulars being furnished. The ITAT emphasized that the penalty should only be imposed if inaccurate particulars are indeed furnished to evade taxes, and the mere confirmation of an addition in quantum proceedings does not automatically warrant a penalty. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330008