https://www.taxtmi.com/caselaws?id=347731 The High Court upheld the ITAT's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 2007-08. The court found that the assessee had disclosed the cash donation in the return within the prescribed time, paid tax on it, and did not furnish incorrect particulars. As per the Supreme Court ruling, if full particulars are disclosed without inaccuracies, the penalty cannot be imposed. Therefore, the penalty deletion by ITAT was deemed justified, resulting in the dismissal of the appeal challenging the deletion. en-us Mon, 04 Sep 2017 00:00:00 +0530 Fri, 08 Sep 2017 19:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347731 The High Court upheld the ITAT's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 2007-08. The court found that the assessee had disclosed the cash donation in the return within the prescribed time, paid tax on it, and did not furnish incorrect particulars. As per the Supreme Court ruling, if full particulars are disclosed without inaccuracies, the penalty cannot be imposed. Therefore, the penalty deletion by ITAT was deemed justified, resulting in the dismissal of the appeal challenging the deletion. Case-Laws Income Tax Mon, 04 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347731