https://www.taxtmi.com/caselaws?id=274202 The Appellate Tribunal upheld the decision to delete the penalty imposed under section 271(1)(c), emphasizing that the assessee had not concealed or furnished inaccurate particulars of income during the assessment proceedings. The Tribunal considered the debatable nature of the issue at the time of filing the original return and the lack of awareness regarding a subsequent legal decision that formed the basis for the penalty imposition. The Tribunal dismissed the Revenue's appeals, affirming the deletion of the penalty by the Commissioner of Income-tax (Appeals). en-us Mon, 14 May 2018 00:00:00 +0530 Thu, 02 Aug 2018 07:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274202 The Appellate Tribunal upheld the decision to delete the penalty imposed under section 271(1)(c), emphasizing that the assessee had not concealed or furnished inaccurate particulars of income during the assessment proceedings. The Tribunal considered the debatable nature of the issue at the time of filing the original return and the lack of awareness regarding a subsequent legal decision that formed the basis for the penalty imposition. The Tribunal dismissed the Revenue's appeals, affirming the deletion of the penalty by the Commissioner of Income-tax (Appeals). Case-Laws Income Tax Mon, 14 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274202