https://www.taxtmi.com/caselaws?id=355719 The Tribunal overturned the penalty imposed under section 271(1)(d) for alleged concealment of Fringe Benefit Tax (FBT) expenses. The decision was based on the lack of evidence supporting the Assessing Officer's claim and the full disclosure of audit expenses by the assessee. The Tribunal found no justification for the penalty, ruling in favor of the assessee, and canceling the penalty, thus allowing the appeal. en-us Wed, 17 Jan 2018 00:00:00 +0530 Sat, 17 Feb 2018 06:44:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355719 The Tribunal overturned the penalty imposed under section 271(1)(d) for alleged concealment of Fringe Benefit Tax (FBT) expenses. The decision was based on the lack of evidence supporting the Assessing Officer's claim and the full disclosure of audit expenses by the assessee. The Tribunal found no justification for the penalty, ruling in favor of the assessee, and canceling the penalty, thus allowing the appeal. Case-Laws Income Tax Wed, 17 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355719