https://www.taxtmi.com/caselaws?id=195725 The Tribunal dismissed the Revenue's appeal against a penalty order under section 271(1)(c) of the Income-tax Act, 1961. The case involved the appellant hospital claiming excessive depreciation on equipment, leading to a penalty for alleged concealment of income. The Commissioner of Income-tax (Appeals) ruled it was a wrong claim, not concealment. The Tribunal upheld this decision, emphasizing that disallowance of depreciation did not signify concealment of income, resulting in the penalty deletion. en-us Wed, 30 Jan 2013 00:00:00 +0530 Wed, 08 Nov 2017 18:30:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195725 The Tribunal dismissed the Revenue's appeal against a penalty order under section 271(1)(c) of the Income-tax Act, 1961. The case involved the appellant hospital claiming excessive depreciation on equipment, leading to a penalty for alleged concealment of income. The Commissioner of Income-tax (Appeals) ruled it was a wrong claim, not concealment. The Tribunal upheld this decision, emphasizing that disallowance of depreciation did not signify concealment of income, resulting in the penalty deletion. Case-Laws Income Tax Wed, 30 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195725