https://www.taxtmi.com/caselaws?id=365895 The Tribunal allowed the appeal, ruling in favor of the assessee based on the lack of evidence supporting the imposition of the penalty under section 271(1)(c) of the Income Tax Act, 1961. The decision emphasized the necessity of positive evidence of concealment or inaccurate particulars to justify penalties, citing past judgments to support the conclusion that the penalty was unwarranted in this case. en-us Thu, 23 Aug 2018 00:00:00 +0530 Sat, 25 Aug 2018 09:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365895 The Tribunal allowed the appeal, ruling in favor of the assessee based on the lack of evidence supporting the imposition of the penalty under section 271(1)(c) of the Income Tax Act, 1961. The decision emphasized the necessity of positive evidence of concealment or inaccurate particulars to justify penalties, citing past judgments to support the conclusion that the penalty was unwarranted in this case. Case-Laws Income Tax Thu, 23 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365895