https://www.taxtmi.com/caselaws?id=276819 Penalty under section 271(1)(c) was not attracted where the disallowance arose from interest expenditure computed under section 14A read with Rule 8D, because there was no material showing concealment of income or furnishing of inaccurate particulars. The court noted that the assessee had not suppressed income or the source of income, and the Tribunal's deletion of the penalty was not shown to be erroneous. The penalty deletion was therefore upheld in favour of the assessee. en-us Mon, 19 Mar 2018 00:00:00 +0530 Thu, 16 May 2019 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276819 Penalty under section 271(1)(c) was not attracted where the disallowance arose from interest expenditure computed under section 14A read with Rule 8D, because there was no material showing concealment of income or furnishing of inaccurate particulars. The court noted that the assessee had not suppressed income or the source of income, and the Tribunal's deletion of the penalty was not shown to be erroneous. The penalty deletion was therefore upheld in favour of the assessee. Case-Laws Income Tax Mon, 19 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276819