https://www.taxtmi.com/caselaws?id=278427 The Appellate Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the appellant's disclosure of interest income in the capital account and TDS certificates, along with similar disclosures in previous and subsequent years, indicated inadvertent error rather than intentional concealment. Relying on a Supreme Court decision, the Tribunal concluded that it was not a suitable case for penalty imposition, overturning the decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals). en-us Fri, 15 Mar 2013 00:00:00 +0530 Fri, 01 Feb 2019 10:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278427 The Appellate Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the appellant's disclosure of interest income in the capital account and TDS certificates, along with similar disclosures in previous and subsequent years, indicated inadvertent error rather than intentional concealment. Relying on a Supreme Court decision, the Tribunal concluded that it was not a suitable case for penalty imposition, overturning the decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278427