https://www.taxtmi.com/caselaws?id=354118 The Tribunal upheld the deletion of the penalty imposed under section 271(1)(c) by the Assessing Officer. The decision was based on the factual accuracy of the information provided, legal precedents, and the debatable nature of the issue following the acceptance of the appeal by the High Court. The Tribunal emphasized that the penalty and assessment proceedings are separate, and the additions made were due to a difference of opinion rather than concealment of income. The Tribunal dismissed the revenue's appeal, affirming the Ld.CIT(A)'s decision to delete the penalty. en-us Mon, 15 Jan 2018 00:00:00 +0530 Thu, 18 Jan 2018 08:25:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354118 The Tribunal upheld the deletion of the penalty imposed under section 271(1)(c) by the Assessing Officer. The decision was based on the factual accuracy of the information provided, legal precedents, and the debatable nature of the issue following the acceptance of the appeal by the High Court. The Tribunal emphasized that the penalty and assessment proceedings are separate, and the additions made were due to a difference of opinion rather than concealment of income. The Tribunal dismissed the revenue's appeal, affirming the Ld.CIT(A)'s decision to delete the penalty. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354118