https://www.taxtmi.com/caselaws?id=340169 The Tribunal allowed the appeal, deleting the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal held that there was no concealment or inaccurate particulars furnished by the assessee, as all relevant details were disclosed during assessment proceedings. The tax was computed under Section 115JB, negating any grounds for penalty imposition. The Tribunal emphasized strict compliance with statutory requirements for penalty imposition, citing relevant case law to support its decision. en-us Wed, 08 Mar 2017 00:00:00 +0530 Fri, 17 Mar 2017 11:17:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340169 The Tribunal allowed the appeal, deleting the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal held that there was no concealment or inaccurate particulars furnished by the assessee, as all relevant details were disclosed during assessment proceedings. The tax was computed under Section 115JB, negating any grounds for penalty imposition. The Tribunal emphasized strict compliance with statutory requirements for penalty imposition, citing relevant case law to support its decision. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340169