https://www.taxtmi.com/caselaws?id=185309 The Tribunal ruled in favor of the assessee, deleting penalties imposed for assessment years 2003-04 and 2005-06. Lack of evidence showing intentional concealment of income or furnishing inaccurate particulars led to the decision. Mere acceptance of additions in quantum appeal did not justify penalties. Legal arguments and precedents cited by the assessee supported the Tribunal's decision to overturn penalties. en-us Fri, 04 May 2012 00:00:00 +0530 Tue, 09 Aug 2016 11:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185309 The Tribunal ruled in favor of the assessee, deleting penalties imposed for assessment years 2003-04 and 2005-06. Lack of evidence showing intentional concealment of income or furnishing inaccurate particulars led to the decision. Mere acceptance of additions in quantum appeal did not justify penalties. Legal arguments and precedents cited by the assessee supported the Tribunal's decision to overturn penalties. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185309