https://www.taxtmi.com/caselaws?id=191449 The ITAT dismissed the Revenue's appeal against the deletion of penalty u/s 271(1)(c) by the CIT (A) for the assessment year 2006-07. The ITAT held that no concealment of income occurred as the assessee disclosed all income particulars, and the delay in TDS deposit did not warrant penalty imposition. The judgment emphasized that disallowance of expenses does not automatically imply concealment of income, and penalty cannot be imposed solely based on disallowances. en-us Fri, 21 Jun 2013 00:00:00 +0530 Tue, 04 Apr 2017 17:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191449 The ITAT dismissed the Revenue's appeal against the deletion of penalty u/s 271(1)(c) by the CIT (A) for the assessment year 2006-07. The ITAT held that no concealment of income occurred as the assessee disclosed all income particulars, and the delay in TDS deposit did not warrant penalty imposition. The judgment emphasized that disallowance of expenses does not automatically imply concealment of income, and penalty cannot be imposed solely based on disallowances. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191449