https://www.taxtmi.com/caselaws?id=186274 The Tribunal allowed the assessee's appeal against the penalty imposed under section 271(1)(c) for disallowance under section 40(a)(ii) for the assessment year 2005-06. Relying on legal precedents and finding no deliberate attempt to conceal income, the Tribunal directed the Assessing Officer to delete the penalty, in line with the decision in the case of M/s. Lucky Star International. en-us Fri, 23 Nov 2012 00:00:00 +0530 Tue, 13 Sep 2016 14:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186274 The Tribunal allowed the assessee's appeal against the penalty imposed under section 271(1)(c) for disallowance under section 40(a)(ii) for the assessment year 2005-06. Relying on legal precedents and finding no deliberate attempt to conceal income, the Tribunal directed the Assessing Officer to delete the penalty, in line with the decision in the case of M/s. Lucky Star International. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186274