https://www.taxtmi.com/caselaws?id=353072 The Revenue's appeal against the deletion of penalty under Section 271(1)(c) of the Income Tax Act was dismissed. The ITAT upheld the decision of the Ld.CIT(A) to delete the penalty, emphasizing that differences in the treatment of income and full disclosure do not amount to concealment or furnishing inaccurate particulars warranting a penalty. The judgment highlighted that a mere change in the classification of income does not automatically lead to the imposition of a concealment penalty. en-us Wed, 20 Dec 2017 00:00:00 +0530 Wed, 27 Dec 2017 09:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353072 The Revenue's appeal against the deletion of penalty under Section 271(1)(c) of the Income Tax Act was dismissed. The ITAT upheld the decision of the Ld.CIT(A) to delete the penalty, emphasizing that differences in the treatment of income and full disclosure do not amount to concealment or furnishing inaccurate particulars warranting a penalty. The judgment highlighted that a mere change in the classification of income does not automatically lead to the imposition of a concealment penalty. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353072