https://www.taxtmi.com/caselaws?id=194879 The Tribunal dismissed the Revenue's appeal against penalty imposition under section 271(1)(c) for changing income head from business to house property. Emphasizing consistent income disclosure and absence of malafide intent, the Tribunal ruled that the penalty was not justified. The change in income head without evidence of non-bonafide intent did not warrant penalty imposition, leading to the rejection of the Revenue's appeal. en-us Thu, 04 Dec 2014 00:00:00 +0530 Thu, 05 Oct 2017 09:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194879 The Tribunal dismissed the Revenue's appeal against penalty imposition under section 271(1)(c) for changing income head from business to house property. Emphasizing consistent income disclosure and absence of malafide intent, the Tribunal ruled that the penalty was not justified. The change in income head without evidence of non-bonafide intent did not warrant penalty imposition, leading to the rejection of the Revenue's appeal. Case-Laws Income Tax Thu, 04 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194879