https://www.taxtmi.com/caselaws?id=373042 The Tribunal found that the penalty under s.271(1)(c) for disallowance of interest expenses was not justified as it did not amount to furnishing inaccurate particulars of income. Relying on a judgment of the Hon'ble Gujarat High Court, the Tribunal set aside the penalty imposed by the AO and confirmed by the ld. CIT(A), directing the deletion of the penalty and ruling in favor of the assessee. en-us Mon, 03 Dec 2018 00:00:00 +0530 Sat, 05 Jan 2019 08:05:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373042 The Tribunal found that the penalty under s.271(1)(c) for disallowance of interest expenses was not justified as it did not amount to furnishing inaccurate particulars of income. Relying on a judgment of the Hon'ble Gujarat High Court, the Tribunal set aside the penalty imposed by the AO and confirmed by the ld. CIT(A), directing the deletion of the penalty and ruling in favor of the assessee. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373042