https://www.taxtmi.com/caselaws?id=348759 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 2010-11. The penalty was challenged by the appellant due to the disallowance of professional and management expenses. The Tribunal found that the penalty was not justified as the appellant did not furnish inaccurate particulars of income, leading to the deletion of the penalty in the interest of equity and merits of the case. en-us Tue, 08 Aug 2017 00:00:00 +0530 Thu, 28 Sep 2017 07:23:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348759 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 2010-11. The penalty was challenged by the appellant due to the disallowance of professional and management expenses. The Tribunal found that the penalty was not justified as the appellant did not furnish inaccurate particulars of income, leading to the deletion of the penalty in the interest of equity and merits of the case. Case-Laws Income Tax Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348759