https://www.taxtmi.com/caselaws?id=334362 The Tribunal allowed the appeal, ruling in favor of the appellant and ordering the deletion of the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income. The appellant's explanation that the rental income belonged to the co-owner son and not solely to her was found to be bona fide and reasonable, leading to the justification for non-inclusion of the income in the return. Consequently, the penalty was deemed unjustified, and the appellant succeeded in challenging the penalty decision before the Tribunal. en-us Fri, 09 Sep 2016 00:00:00 +0530 Fri, 11 Nov 2016 11:18:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334362 The Tribunal allowed the appeal, ruling in favor of the appellant and ordering the deletion of the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income. The appellant's explanation that the rental income belonged to the co-owner son and not solely to her was found to be bona fide and reasonable, leading to the justification for non-inclusion of the income in the return. Consequently, the penalty was deemed unjustified, and the appellant succeeded in challenging the penalty decision before the Tribunal. Case-Laws Income Tax Fri, 09 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334362