https://www.taxtmi.com/caselaws?id=344179 The Tribunal set aside the penalty imposed under section 271(l)(c) for the short disclosure of interest on the income tax refund by the assessee firm. Despite acknowledging the mistake in failing to disclose the interest income, the Tribunal found it to be inadvertent and not deliberate concealment. Emphasizing the importance of due diligence by taxpayers, the Tribunal quashed the penalty order, allowing the appeal of the assessee. en-us Wed, 07 Jun 2017 00:00:00 +0530 Sat, 10 Jun 2017 05:45:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344179 The Tribunal set aside the penalty imposed under section 271(l)(c) for the short disclosure of interest on the income tax refund by the assessee firm. Despite acknowledging the mistake in failing to disclose the interest income, the Tribunal found it to be inadvertent and not deliberate concealment. Emphasizing the importance of due diligence by taxpayers, the Tribunal quashed the penalty order, allowing the appeal of the assessee. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344179