https://www.taxtmi.com/caselaws?id=334720 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for A.Y 2008-09. The Tribunal found that there was no deliberate concealment or furnishing of inaccurate particulars by the assessee, as required by law for the imposition of penalties. The decision was based on the assessee's bonafide belief regarding the income from property sale and the disclosure of relevant details, supported by a previous ITAT order in favor of the assessee. en-us Tue, 31 May 2016 00:00:00 +0530 Sat, 19 Nov 2016 12:03:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334720 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for A.Y 2008-09. The Tribunal found that there was no deliberate concealment or furnishing of inaccurate particulars by the assessee, as required by law for the imposition of penalties. The decision was based on the assessee's bonafide belief regarding the income from property sale and the disclosure of relevant details, supported by a previous ITAT order in favor of the assessee. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334720