https://www.taxtmi.com/caselaws?id=361922 The ITAT upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c), ruling that there was no concealment of income or furnishing of inaccurate particulars. The appeal by the Revenue was dismissed, emphasizing the assessee's bona fide belief in the timing of allowable claims, as evidenced by subsequent acceptance in other assessment years. The order was pronounced on 13/06/2018. en-us Wed, 13 Jun 2018 00:00:00 +0530 Fri, 15 Jun 2018 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361922 The ITAT upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c), ruling that there was no concealment of income or furnishing of inaccurate particulars. The appeal by the Revenue was dismissed, emphasizing the assessee's bona fide belief in the timing of allowable claims, as evidenced by subsequent acceptance in other assessment years. The order was pronounced on 13/06/2018. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361922