https://www.taxtmi.com/caselaws?id=353205 The Tribunal allowed the appeal, deleting the penalty imposed under section 271(1)(c) of the I.T. Act, 1961. It was determined that the disallowed interest expenditure did not amount to concealment or furnishing inaccurate particulars of income. The Tribunal found the penalty unjustified based on the lack of evidence showing concealment or inaccuracies, leading to the penalty's deletion. en-us Tue, 19 Dec 2017 00:00:00 +0530 Fri, 29 Dec 2017 08:55:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353205 The Tribunal allowed the appeal, deleting the penalty imposed under section 271(1)(c) of the I.T. Act, 1961. It was determined that the disallowed interest expenditure did not amount to concealment or furnishing inaccurate particulars of income. The Tribunal found the penalty unjustified based on the lack of evidence showing concealment or inaccuracies, leading to the penalty's deletion. Case-Laws Income Tax Tue, 19 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353205