https://www.taxtmi.com/caselaws?id=191844 The ITAT allowed the appeal, canceling the penalty imposed on the assessee for claiming full depreciation on trucks not put to use before a specified date, deeming it a bonafide mistake that did not warrant a penalty under section 271(1)(c). The ITAT concluded that the higher claim of depreciation due to a genuine mistake did not constitute furnishing inaccurate particulars or concealment of income, citing judicial principles and case laws in support of their decision. en-us Wed, 24 Aug 2011 00:00:00 +0530 Wed, 26 Apr 2017 18:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191844 The ITAT allowed the appeal, canceling the penalty imposed on the assessee for claiming full depreciation on trucks not put to use before a specified date, deeming it a bonafide mistake that did not warrant a penalty under section 271(1)(c). The ITAT concluded that the higher claim of depreciation due to a genuine mistake did not constitute furnishing inaccurate particulars or concealment of income, citing judicial principles and case laws in support of their decision. Case-Laws Income Tax Wed, 24 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191844