https://www.taxtmi.com/caselaws?id=351724 The Tribunal allowed the appeal of the assessee, deleting the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal concluded that the assessee's claim was made in good faith, following precedents where penalties were deleted in similar circumstances. It was held that there was no intention to defraud the Revenue, and the penalty levied by the Assessing Officer was ordered to be deleted. en-us Tue, 28 Nov 2017 00:00:00 +0530 Wed, 31 Jan 2018 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351724 The Tribunal allowed the appeal of the assessee, deleting the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal concluded that the assessee's claim was made in good faith, following precedents where penalties were deleted in similar circumstances. It was held that there was no intention to defraud the Revenue, and the penalty levied by the Assessing Officer was ordered to be deleted. Case-Laws Income Tax Tue, 28 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351724