https://www.taxtmi.com/caselaws?id=368643 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the issue highly debatable with no evidence of inaccurate particulars or income concealment by the assessee. The High Court upheld this decision, emphasizing the importance of analyzing legal precedents and the debatable nature of tax law issues in determining penalties. en-us Mon, 20 Aug 2018 00:00:00 +0530 Thu, 11 Oct 2018 17:07:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368643 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the issue highly debatable with no evidence of inaccurate particulars or income concealment by the assessee. The High Court upheld this decision, emphasizing the importance of analyzing legal precedents and the debatable nature of tax law issues in determining penalties. Case-Laws Income Tax Mon, 20 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368643