https://www.taxtmi.com/caselaws?id=350569 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to delete the penalty imposed by the A.O under Section 271(1)(c). It was determined that the higher claim of depreciation was a bonafide mistake and not furnishing inaccurate particulars of income. The Tribunal emphasized that the details were correctly provided, and making a wrong claim, without inaccurate particulars, does not warrant a penalty. The previous year's similar mistake not attracting a penalty further supported the genuine nature of the error. Consequently, the penalty proceedings were not sustained, and the CIT(A)'s ruling was affirmed. en-us Mon, 25 Sep 2017 00:00:00 +0530 Wed, 08 Nov 2017 11:21:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350569 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to delete the penalty imposed by the A.O under Section 271(1)(c). It was determined that the higher claim of depreciation was a bonafide mistake and not furnishing inaccurate particulars of income. The Tribunal emphasized that the details were correctly provided, and making a wrong claim, without inaccurate particulars, does not warrant a penalty. The previous year's similar mistake not attracting a penalty further supported the genuine nature of the error. Consequently, the penalty proceedings were not sustained, and the CIT(A)'s ruling was affirmed. Case-Laws Income Tax Mon, 25 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350569