https://www.taxtmi.com/caselaws?id=185695 The Tribunal set aside the penalty of Rs. 23,42,010/- imposed under section 271(1)(c) of the Act, as the AO failed to conclusively establish whether the assessee was guilty of concealing income or providing inaccurate particulars. Relying on a precedent, the Tribunal found the AO's decision ambiguous, leading to a legal error. Consequently, the penalty was deemed invalid, and the appeal of the assessee was successful. en-us Thu, 19 Mar 2009 00:00:00 +0530 Tue, 23 Aug 2016 18:09:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185695 The Tribunal set aside the penalty of Rs. 23,42,010/- imposed under section 271(1)(c) of the Act, as the AO failed to conclusively establish whether the assessee was guilty of concealing income or providing inaccurate particulars. Relying on a precedent, the Tribunal found the AO's decision ambiguous, leading to a legal error. Consequently, the penalty was deemed invalid, and the appeal of the assessee was successful. Case-Laws Income Tax Thu, 19 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185695