https://www.taxtmi.com/caselaws?id=361592 The Tribunal overturned the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, against the appellant. The Tribunal found that the Revenue failed to prove that the appellant furnished inaccurate particulars, considering the appellant's voluntary surrender of amounts and genuine mistake. Emphasizing the importance of concrete evidence of deliberate misinformation, the Tribunal set aside the penalty, citing the Supreme Court's decision and distinguishing between inaccurate particulars and unsustainable claims. en-us Thu, 07 Jun 2018 00:00:00 +0530 Thu, 16 Aug 2018 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361592 The Tribunal overturned the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, against the appellant. The Tribunal found that the Revenue failed to prove that the appellant furnished inaccurate particulars, considering the appellant's voluntary surrender of amounts and genuine mistake. Emphasizing the importance of concrete evidence of deliberate misinformation, the Tribunal set aside the penalty, citing the Supreme Court's decision and distinguishing between inaccurate particulars and unsustainable claims. Case-Laws Income Tax Thu, 07 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361592