https://www.taxtmi.com/caselaws?id=373833 The Tribunal allowed the appeal against the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It found that the penalty initiation for concealing income differed from the penalty imposed for furnishing inaccurate particulars of income, rendering the penalty unjustified. The Tribunal held that the ld. CIT(A) erred in confirming the penalty without recognizing this distinction, leading to the deletion of the penalty. The judgment emphasized the importance of consistency in penalty proceedings under the specified section of the Income Tax Act. en-us Wed, 16 Jan 2019 00:00:00 +0530 Mon, 21 Jan 2019 09:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373833 The Tribunal allowed the appeal against the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It found that the penalty initiation for concealing income differed from the penalty imposed for furnishing inaccurate particulars of income, rendering the penalty unjustified. The Tribunal held that the ld. CIT(A) erred in confirming the penalty without recognizing this distinction, leading to the deletion of the penalty. The judgment emphasized the importance of consistency in penalty proceedings under the specified section of the Income Tax Act. Case-Laws Income Tax Wed, 16 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373833