https://www.taxtmi.com/caselaws?id=189681 The ITAT Mumbai ruled in favor of the assessee, holding that the penalty imposed under section 271(1)(c) of the Income Tax Act for concealment of income particulars, when the penalty proceedings were initiated for furnishing inaccurate particulars of income, was not sustainable. The ITAT quashed the penalty order citing legal grounds and precedents, setting aside the orders passed by the tax authorities and allowing the appeal filed by the assessee. en-us Fri, 02 Sep 2016 00:00:00 +0530 Mon, 16 Jan 2017 20:58:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189681 The ITAT Mumbai ruled in favor of the assessee, holding that the penalty imposed under section 271(1)(c) of the Income Tax Act for concealment of income particulars, when the penalty proceedings were initiated for furnishing inaccurate particulars of income, was not sustainable. The ITAT quashed the penalty order citing legal grounds and precedents, setting aside the orders passed by the tax authorities and allowing the appeal filed by the assessee. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189681