https://www.taxtmi.com/caselaws?id=346686 The ITAT allowed the appeal, setting aside the penalty of Rs. 85,340 imposed on the assessee under Sec. 271(1)(c) for furnishing inaccurate particulars of income. ITAT found that the amount in question could only be related to the year of investment and as the CIT(A) did not address this crucial aspect, there was no justification for the penalty for the year under consideration. en-us Wed, 26 Jul 2017 00:00:00 +0530 Tue, 22 Aug 2017 07:27:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346686 The ITAT allowed the appeal, setting aside the penalty of Rs. 85,340 imposed on the assessee under Sec. 271(1)(c) for furnishing inaccurate particulars of income. ITAT found that the amount in question could only be related to the year of investment and as the CIT(A) did not address this crucial aspect, there was no justification for the penalty for the year under consideration. Case-Laws Income Tax Wed, 26 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346686