https://www.taxtmi.com/caselaws?id=360148 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for the assessment year 2012-13. The department's appeal challenging the deletion of penalty was dismissed, emphasizing that the assessee's provided information was not inaccurate, justifying the deduction acceptance. The Tribunal found the claimed expenditures were supported by correct particulars in the audit report and the assessee's financial position. The Tribunal concluded that accepting the Assessing Officer's additions did not imply inaccurate particulars of income, in line with the Supreme Court's decision. en-us Wed, 09 May 2018 00:00:00 +0530 Fri, 22 Jun 2018 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360148 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) for the assessment year 2012-13. The department's appeal challenging the deletion of penalty was dismissed, emphasizing that the assessee's provided information was not inaccurate, justifying the deduction acceptance. The Tribunal found the claimed expenditures were supported by correct particulars in the audit report and the assessee's financial position. The Tribunal concluded that accepting the Assessing Officer's additions did not imply inaccurate particulars of income, in line with the Supreme Court's decision. Case-Laws Income Tax Wed, 09 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360148