https://www.taxtmi.com/caselaws?id=336364 The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the penalty imposed under section 271(1)(c) of the Act. It was held that there was no concealment of income or furnishing of inaccurate particulars, as the assessee genuinely relied on the bank's certificates for reporting interest income. The Tribunal considered the lack of access to Form 26AS at the time of filing the return and the substantial income already declared, concluding that there was no willful attempt to evade taxes. en-us Fri, 21 Oct 2016 00:00:00 +0530 Mon, 19 Dec 2016 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336364 The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the penalty imposed under section 271(1)(c) of the Act. It was held that there was no concealment of income or furnishing of inaccurate particulars, as the assessee genuinely relied on the bank's certificates for reporting interest income. The Tribunal considered the lack of access to Form 26AS at the time of filing the return and the substantial income already declared, concluding that there was no willful attempt to evade taxes. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336364