https://www.taxtmi.com/caselaws?id=365950 The High Court dismissed the appellant's challenge to the ITAT order overturning the penalty imposed by the AO for not providing detailed income particulars. The court emphasized the factual nature of the case, noting the company's disclosure of the waived amount in its financial records and the lack of clarity from the bank regarding the allocation of the payment. The judgment distinguished between deliberate concealment and genuine difficulties in providing specific information, ultimately upholding the ITAT's decision in favor of the company. en-us Mon, 18 Jun 2018 00:00:00 +0530 Mon, 27 Aug 2018 08:33:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365950 The High Court dismissed the appellant's challenge to the ITAT order overturning the penalty imposed by the AO for not providing detailed income particulars. The court emphasized the factual nature of the case, noting the company's disclosure of the waived amount in its financial records and the lack of clarity from the bank regarding the allocation of the payment. The judgment distinguished between deliberate concealment and genuine difficulties in providing specific information, ultimately upholding the ITAT's decision in favor of the company. Case-Laws Income Tax Mon, 18 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365950