https://www.taxtmi.com/caselaws?id=188342 The Tribunal partially allowed the appeals concerning penalty imposition under section 271(1)(c) of the Income-tax Act. It emphasized the need for a plausible explanation by the assessee regarding inaccurate particulars of income, distinguishing between concealment and furnishing inaccurate details. The decision considered the specifics of the case and the explanations provided, highlighting the importance of accurate income disclosure and the separate nature of penalty proceedings from assessment procedures. en-us Wed, 20 Jul 2016 00:00:00 +0530 Sat, 26 Nov 2016 11:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188342 The Tribunal partially allowed the appeals concerning penalty imposition under section 271(1)(c) of the Income-tax Act. It emphasized the need for a plausible explanation by the assessee regarding inaccurate particulars of income, distinguishing between concealment and furnishing inaccurate details. The decision considered the specifics of the case and the explanations provided, highlighting the importance of accurate income disclosure and the separate nature of penalty proceedings from assessment procedures. Case-Laws Income Tax Wed, 20 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188342