https://www.taxtmi.com/caselaws?id=378173 The Appellate Tribunal overturned the penalty imposed under section 271(1)(c) of the Income Tax Act on the appellant for disallowances in the assessment order. The Tribunal found that the discrepancies were not indicative of intentional concealment of income but rather technical errors and lack of detailed information. It highlighted the importance of assessing each case's specific circumstances when applying penalties. The decision set aside the penalty upheld by the CIT(A), emphasizing that the appellant's actions were not deliberate attempts to conceal income. en-us Mon, 08 Apr 2019 00:00:00 +0530 Wed, 10 Apr 2019 07:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378173 The Appellate Tribunal overturned the penalty imposed under section 271(1)(c) of the Income Tax Act on the appellant for disallowances in the assessment order. The Tribunal found that the discrepancies were not indicative of intentional concealment of income but rather technical errors and lack of detailed information. It highlighted the importance of assessing each case's specific circumstances when applying penalties. The decision set aside the penalty upheld by the CIT(A), emphasizing that the appellant's actions were not deliberate attempts to conceal income. Case-Laws Income Tax Mon, 08 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378173