https://www.taxtmi.com/caselaws?id=193113 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. It was held that there was no concealment of income or furnishing of inaccurate particulars, as all transactions were disclosed and conducted through recognized channels. The Tribunal considered judicial precedents and concluded that the penalty was not justified, emphasizing that the assessee provided complete information during assessment. The penalty was canceled, indicating a lack of definite conclusion by the Assessing Officer. en-us Fri, 17 Jun 2016 00:00:00 +0530 Thu, 13 Jul 2017 21:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193113 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. It was held that there was no concealment of income or furnishing of inaccurate particulars, as all transactions were disclosed and conducted through recognized channels. The Tribunal considered judicial precedents and concluded that the penalty was not justified, emphasizing that the assessee provided complete information during assessment. The penalty was canceled, indicating a lack of definite conclusion by the Assessing Officer. Case-Laws Income Tax Fri, 17 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193113