https://www.taxtmi.com/caselaws?id=187130 The Tribunal allowed the appeal, holding that the penalty under section 271(1)(c) was not justified as there was no concealment of income or furnishing of inaccurate particulars. The Tribunal emphasized that the disputed amount was debited by the firm, not the assessee, and the issue revolved around legal interpretation. The penalty was deleted, and the decision was pronounced on 6th April 2010. en-us Tue, 06 Apr 2010 00:00:00 +0530 Wed, 12 Oct 2016 12:17:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187130 The Tribunal allowed the appeal, holding that the penalty under section 271(1)(c) was not justified as there was no concealment of income or furnishing of inaccurate particulars. The Tribunal emphasized that the disputed amount was debited by the firm, not the assessee, and the issue revolved around legal interpretation. The penalty was deleted, and the decision was pronounced on 6th April 2010. Case-Laws Income Tax Tue, 06 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187130