https://www.taxtmi.com/caselaws?id=362205 The Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act. The decision was based on the lack of evidence showing deliberate concealment or furnishing of inaccurate particulars by the assessee, as required for penalty imposition. The Tribunal found the penalty harsh and improper, considering the assessee's genuine attempts to explain the source of funds. en-us Mon, 11 Jun 2018 00:00:00 +0530 Thu, 21 Jun 2018 06:24:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362205 The Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act. The decision was based on the lack of evidence showing deliberate concealment or furnishing of inaccurate particulars by the assessee, as required for penalty imposition. The Tribunal found the penalty harsh and improper, considering the assessee's genuine attempts to explain the source of funds. Case-Laws Income Tax Mon, 11 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362205