https://www.taxtmi.com/caselaws?id=360334 The Tribunal upheld the deletion of penalty under section 271(1)(c) of the Income Tax Act. The decision was based on the finding that the assessee's claim, though not accepted initially, was not made with inaccurate particulars. The Tribunal emphasized that the absence of bills did not render the claim unlawful and supported the decision by citing relevant case laws. The appeal by the Revenue was dismissed, affirming the importance of genuine claims and reasonable explanations in tax assessments. en-us Thu, 11 Jan 2018 00:00:00 +0530 Tue, 15 May 2018 07:14:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360334 The Tribunal upheld the deletion of penalty under section 271(1)(c) of the Income Tax Act. The decision was based on the finding that the assessee's claim, though not accepted initially, was not made with inaccurate particulars. The Tribunal emphasized that the absence of bills did not render the claim unlawful and supported the decision by citing relevant case laws. The appeal by the Revenue was dismissed, affirming the importance of genuine claims and reasonable explanations in tax assessments. Case-Laws Income Tax Thu, 11 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360334