https://www.taxtmi.com/caselaws?id=379693 The tribunal held that penalties under Section 271(1)(c) of the Income-tax Act were not applicable in the case. The penalties imposed for non-confirmation of a sundry creditor and incorrect classification of rental income were deleted. The tribunal found the assessee's explanations to be bona fide and that no incriminating material was presented by the Revenue. The appeal of the assessee was allowed, and the penalties levied by the Assessing Officer were deleted. en-us Wed, 01 May 2019 00:00:00 +0530 Mon, 06 May 2019 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379693 The tribunal held that penalties under Section 271(1)(c) of the Income-tax Act were not applicable in the case. The penalties imposed for non-confirmation of a sundry creditor and incorrect classification of rental income were deleted. The tribunal found the assessee's explanations to be bona fide and that no incriminating material was presented by the Revenue. The appeal of the assessee was allowed, and the penalties levied by the Assessing Officer were deleted. Case-Laws Income Tax Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379693