https://www.taxtmi.com/caselaws?id=342422 The Tribunal directed the Assessing Officer to delete the penalty imposed under Section 271(1)(c) as the addition was based on the deeming provisions of Section 50C and not on any actual concealment or furnishing of inaccurate particulars of income by the assessee. The appeal of the assessee was allowed. en-us Mon, 17 Apr 2017 00:00:00 +0530 Sat, 29 Apr 2017 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342422 The Tribunal directed the Assessing Officer to delete the penalty imposed under Section 271(1)(c) as the addition was based on the deeming provisions of Section 50C and not on any actual concealment or furnishing of inaccurate particulars of income by the assessee. The appeal of the assessee was allowed. Case-Laws Income Tax Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342422