https://www.taxtmi.com/caselaws?id=341852 The Tribunal allowed the Assessee's appeal, setting aside the penalty imposed under section 271(1)(c) of the IT Act. The decision highlighted that the penalty was not justified as there was no concealment of income or furnishing of inaccurate particulars. The Tribunal emphasized the importance of accurate assessment and concluded that penal consequences were unwarranted in the absence of deliberate misconduct. en-us Tue, 18 Apr 2017 00:00:00 +0530 Wed, 19 Apr 2017 06:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341852 The Tribunal allowed the Assessee's appeal, setting aside the penalty imposed under section 271(1)(c) of the IT Act. The decision highlighted that the penalty was not justified as there was no concealment of income or furnishing of inaccurate particulars. The Tribunal emphasized the importance of accurate assessment and concluded that penal consequences were unwarranted in the absence of deliberate misconduct. Case-Laws Income Tax Tue, 18 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341852