https://www.taxtmi.com/caselaws?id=349431 The Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty imposed under section 271(1)(c) for netting interest on Income Tax Refund. The decision was based on the genuine belief of the assessee, adequate disclosure of claim particulars, and previous acceptance of the claim in quantum proceedings. The Tribunal held that the assessee did not furnish inaccurate particulars warranting the penalty. en-us Fri, 06 Oct 2017 00:00:00 +0530 Thu, 12 Oct 2017 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349431 The Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty imposed under section 271(1)(c) for netting interest on Income Tax Refund. The decision was based on the genuine belief of the assessee, adequate disclosure of claim particulars, and previous acceptance of the claim in quantum proceedings. The Tribunal held that the assessee did not furnish inaccurate particulars warranting the penalty. Case-Laws Income Tax Fri, 06 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349431