https://www.taxtmi.com/caselaws?id=341266 The Tribunal set aside the CIT(A)'s order and directed the AO to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal concluded that the addition made under Section 68, based on legal fiction, did not justify a penalty for concealment or furnishing inaccurate particulars. The appeal of the assessee was allowed. en-us Wed, 22 Mar 2017 00:00:00 +0530 Wed, 05 Apr 2017 07:06:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341266 The Tribunal set aside the CIT(A)'s order and directed the AO to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal concluded that the addition made under Section 68, based on legal fiction, did not justify a penalty for concealment or furnishing inaccurate particulars. The appeal of the assessee was allowed. Case-Laws Income Tax Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341266