https://www.taxtmi.com/caselaws?id=194683 The Tribunal upheld the deletion of penalty under section 271(1)(c) for inaccurate particulars of income for the assessment year 2000-01. The Commissioner of Income Tax (Appeals) had deleted the penalty based on legal precedents and the admission of the appeal by the High Court involving a substantial question of law. The Tribunal emphasized that a mere disallowance of a claim does not automatically attract a penalty, citing the Supreme Court's ruling. Consequently, the penalty was deemed unjustified, and the Revenue's appeal was dismissed. en-us Thu, 20 Jun 2013 00:00:00 +0530 Tue, 19 Sep 2017 12:19:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194683 The Tribunal upheld the deletion of penalty under section 271(1)(c) for inaccurate particulars of income for the assessment year 2000-01. The Commissioner of Income Tax (Appeals) had deleted the penalty based on legal precedents and the admission of the appeal by the High Court involving a substantial question of law. The Tribunal emphasized that a mere disallowance of a claim does not automatically attract a penalty, citing the Supreme Court's ruling. Consequently, the penalty was deemed unjustified, and the Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194683