https://www.taxtmi.com/caselaws?id=343232 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act for the A.Y. 1998-99 and 1999-2000. The Tribunal found that the appellant had made full disclosures and the assessment was based on differing legal interpretations, not concealment or furnishing inaccurate particulars. Referring to judicial precedents, the Tribunal concluded that the penalty was unwarranted. The Revenue's appeals were dismissed, affirming the deletion of the penalty, consistent with previous years' outcomes. en-us Wed, 17 May 2017 00:00:00 +0530 Mon, 22 May 2017 07:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343232 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act for the A.Y. 1998-99 and 1999-2000. The Tribunal found that the appellant had made full disclosures and the assessment was based on differing legal interpretations, not concealment or furnishing inaccurate particulars. Referring to judicial precedents, the Tribunal concluded that the penalty was unwarranted. The Revenue's appeals were dismissed, affirming the deletion of the penalty, consistent with previous years' outcomes. Case-Laws Income Tax Wed, 17 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343232