https://www.taxtmi.com/caselaws?id=380654 The ITAT set aside penalties imposed under section 271(1)(c) for additional income declared during assessment proceedings after filing the return under section 153A. The ITAT found that penalties for both concealing income and furnishing inaccurate particulars simultaneously were impermissible under the law. Relying on legal precedents, the ITAT directed the deletion of penalties, ruling in favor of the assessee in all three appeals for assessment years 2005-06, 2006-07, and 2007-08. en-us Tue, 21 May 2019 00:00:00 +0530 Fri, 24 May 2019 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380654 The ITAT set aside penalties imposed under section 271(1)(c) for additional income declared during assessment proceedings after filing the return under section 153A. The ITAT found that penalties for both concealing income and furnishing inaccurate particulars simultaneously were impermissible under the law. Relying on legal precedents, the ITAT directed the deletion of penalties, ruling in favor of the assessee in all three appeals for assessment years 2005-06, 2006-07, and 2007-08. Case-Laws Income Tax Tue, 21 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380654